Obama’s Election Seals Our Fate
By Monty Pelerin
November 8, 2012
The Obama re-election dooms the country. It ensures that his philosophy will be imposed for another four years.
His election ensures the continuing shift away from the Rule of Law, property rights, free men, and free markets. Obama’s vision of how the world works ensures a dire economy until an economic collapse resets everything. The rest of the world, apparently bigger Obama supporters than U.S. voters, will not be immune from the consequences.
The Fundamentals of Progress
Peace and progress are the children of freedom. The wealth of nations was explained more than two hundred years ago by Adam Smith. Property rights and markets coordinate behavior in a manner that all are made better off by the pursuit of self-interest.
President Obama’s view of the world is in contradiction to anything that has ever succeeded. He believes that elites should manage and direct people’s lives. This fatal conceit, as Friedrich Hayek referred to it, produces failure and misery wherever it is tried.
Ludwig von Mises pointed out that the progress of the West was achieved on a simple idea:
The essential characteristic of Western civilization that distinguishes it from the arrested and petrified civilizations of the East was and is its concern for freedom from the state.
Civilization advanced and prospered on a foundation of private property, defined rights, free men, free markets, and the Rule of Law. Obama’s view is hostile to these pillars of progress despite the lack of evidence of progress for any country that has not adhered to these principles.