https://open.spotify.com/track/7M3e0FJX7tyI3M0CNcRlvN

Government is the great fiction, through which everybody endeavors to live at the expense of everybody else.

In the wilderness of the New World, the Plymouth Pilgrims had progressed from the false dream of communism to the sound realism of capitalism. At a time of economic uncertainty and growing political paternalism, it is worthwhile recalling this beginning of the American experiment and experience with economic freedom. This is the lesson of the First Thanksgiving. This year, when we, Americans sit around our dining table with family and friends, we should also remember that what we are really celebrating is the birth of free men and free enterprise in that New World of America. The true meaning of Thanksgiving, in other words, is the triumph of Capitalism over the failure of Collectivism in all its forms. https://www.fff.org/explore-freedom/article/thanksgiving-celebrating-birth-american-free-enterprise/

The distinction rests on whether power is dynamic or static. A wealthy entrepreneur can lose their wealth if they fail to serve consumers well. An entrenched power holder protected from competition cannot.

The Road to De-Civilization: Inflation and the Moral Erosion of Society My latest with the Mises Institute https://mises.org/mises-wire/road-de-civilization-inflation-and-moral-erosion-society

These scenarios are fundamentally different because they involve different mechanisms of power acquisition.

A world in which the wealthy are powerful is still a better world than one in which only the already powerful can acquire wealth.” — Friedrich Hayek