America Has 2 Systems
America has two democracies, one political and the other free market. The concept of a political democracy dates back to Plato and his “Republic.” Ludwig von Mises and my mentor Dr. Bill Peterson (a student and colleague of Mises) wrote extensively about our market democracy. Both of these great men are now just a memory but their legacy defines America. The political class dominates the news, while the market provides the solutions chosen by our citizens. Plato described the political democracy as “full of disorder.” Today, the political democracy provides a spectacle of unpleasant news and often nastiness. Fights endure … Continue reading →
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