Shrinking Economy, Expanding State…(MUST READ)

Monday, June 6, 2011
By Paul Martin

By JR Nyquist
FinancialSense.com
06/06/2011

It is useful to go back and read what analysts and experts have said about the future of the free market system. Many of the greatest thinkers and writers of the last 120 years thought capitalism would succumb to socialism. For example, Gustave Le Bon and Joseph Schumpeter suggested that socialism was inevitable. According to Le Bon, “Before the hour of its triumph, which will be quickly followed by that of its fall, socialism is destined to widen its influence….” Le Bon did not believe that civilization could adopt socialism permanently. After all, what was socialism? Le Bon wrote: “The immediate fate of the nation which shall first see the triumph of socialism may be traced in a few lines. The people will of course begin by despoiling and then shooting a few thousands of employers, capitalists and members of the wealthy class … Intelligence and ability will be replaced by mediocrity.” Eventually, Le Bon predicted, an “equality of servitude” will prevail everywhere. Far from being a paradise, he explained, “It will be a hell, a terrible hell….” Le Bon wrote these words in 1898, almost two decades before the Bolshevik Revolution.

The Rest…HERE

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