About This Blog

Ludwig von Mises (1881-1973) was the greatest economist of my time. His greatest works can be accessed here at no charge.

Mises believed that property, freedom and peace are and should be the hallmarks of a satisfying and prosperous society. I agree. Mises proved beyond a shadow of a doubt that the prospect for general and individual prosperity is maximized, indeed, is only possible, if the principle of private property reigns supreme. What's yours is yours. What's mine is mine. When the line between yours and mine is smudged, the door to conflict opens. Without freedom (individual liberty of action) the principle of private property is neutered and the free market, which is the child of property and freedom and the mother of prosperity and satisfaction, cannot exist. Peace is the goal of a prosperous and satisfying society of free individuals, not peace which is purchased by submission to the enemies of property and freedom, but peace which results from the unyielding defense of these principles against all who challenge them.

In this blog I measure American society against the metrics of property, freedom and peace.

Monday, September 20, 2021

Why Cooperative Societies Crack Up

 “…unchecked greed is bad. It becomes exploitive, even murderous.”

Words of wisdom from the proprietor of one of my favorite websites.

So true. But the operative word in this quote is not "greed." The operative word is "unchecked."

Does raw "greed" mechanically turn every bank employee into an embezzler? No. Thousands of bank employees have an opportunity to steal, but few do. Why? Their personal virtue checks the temptation.

Hell, we all are tempted by greed at one time or another, but we all have the power to resist the temptation. Whether we use that power or cross the line and succumb to temptation is what separates honest citizens from criminals. Personal, private virtue is the source of that power.

A free, productive, cooperative society cannot long exist without private morality and private virtue. Our founders knew this and expressed the principle clearly.

Our founders were worldly-wise as well. They knew that some citizens among us are weak-willed and/or without private virtue. So, in order to protect and preserve our cooperative society, they created laws against theft and murder, and a public authority to enforce those laws.

From the standpoint of society it does not matter what motivates the thief or the murderer. What matters is whether or not our public authority does it's job with integrity and honor. A corrupt public authority is one that allows those who break the law to get away with their crimes or even to profit from them and get off scot-free.

Today the executives of Big Pharma might be characterized as excessively greedy, as they conspire with our public authority to mandate vaccinations for all citizens so that both profit immensely. But greed is not the villain here. The villain is our corrupt public authority.

This is why cooperative societies crack up. Citizens with private virtue recognize the behavior of criminals and the corruption of the public authority that enables such criminal behavior and even becomes a partner in that behavior. Eventually -- and perhaps understandably -- these virtuous citizens become righteously enraged. They decide to bypass the corrupt public authority. They take the law into their own hands and dispense vigilante justice.

Our cooperative society in America is now at the edge. Don't be surprised if it cracks up in a sea of bloodshed.

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