Sorry about that, kland. My memory failed me. I thought it was you had had said to me that "managed capitalism" was a success throughout the world.

And where did anybody say "managed capitalism worked throughout the world"?

It has worked in a number of instances, namely China at this time as James Peterson has pointed out.

There has never been an instance where Hayek's ideals were as successful. So, what do you say Gary K?

You really think China is a good example? If it is then a per capita income of less than $8000/yr is being really prosperous, as that is what it was in 2015. During the same time frame the US per capita income was almost $56,000/yr.

For documentation of this go to here: http://www.maritime-sda-online.com/forum...4072#Post184072 .

That $8,000.00 a year is a huge increase from what it was 30 years ago! We know they have almost a billion people to help, but, they are the fastest growing economy in the world and have been for many years!

With all these decades to consider, you only look at this one snapshot in time? Petty.

kland,

The reason for governments not following the principles of Austrian economics is simple to understand. Politicians get into politics to have power. If the principles of Austrian economics were followed it would greatly reduce the amount of power politicians have, and it would stop them from buying votes using other people's money.

Have you never seen the following quote? The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.

That quote is exactly what is going on in the US, and other socialized nations. It is politicians building their power upon the base of buying votes with other people's money. You cannot have that if the principles of the school of Austrian economics is followed.

We can never have that regardless of what economic principles we use! That is always deceitful and abusive for any government to practice.

So then, speaking of Austrian ideals; What do we do with all the currencies that would probably develop throughout the nation? Can any of us create and sell our own currency?

Are you telling me that you have never listened to a politician promise voters what he is going to "do" for them? How they are going to give "free" education, "free" healthcare, how they are going to subsidize housing, the cost of energy, etc...? None of those things can ever be free. Someone always pays for them. And who pays for them? The taxpayer. Socialism is one big con game.

Do you know that during the greatest period of growth in an economy the world has ever seen, the colonial days of the US until the end of the 19th century, most banks were private institutions and many had their own money? The free market set the price of one bank's money against another bank's money. That was based upon the financial stability of each bank.

There wasn't even a central US bank: no Federal Reserve. It was the creation of that by the US Senate which deliberately gave itself no oversight over the Federal Reserve, that has been the cause of most of the economic issues the US has faced sine then. It is the fractional reserve policy guarantees inflation. It is the willy nilly printing of money and the playing with interest rates that in the long term guarantees financial instability and allows the incredible amount of financial fraud to take place. It is the Federal Reserve that runs up market prices and then creates crashes by selling off their over-priced assets, thus transferring incredible amounts of wealth away from private citizens.

For documentation of this watch the interview at the following link of a financial expert in the markets. http://usawatchdog.com/market-crash-and-civil-war-possible-gregory-mannarino/

Gregory Mannarino is not the only person saying these things. Many of the US's top independent financial experts are saying the same thing. Mannarino comes across as incredibly arrogant but at the same time he really understands the markets.

Here is another really good link on what is going on. http://usawatchdog.com/bitcoin-gold-form-two-front-war-with-central-banks-andy-hoffman/

You will hear about a PPT, or Plunge Protection Team, created by the government. It is another manipulator of the markets. Oh, the government tells us that it is really for our protection, but in effect what it does is stop massive selloffs and attempt to lock in that wealth transfer away from private citizens. They lock the barn door after the horse has bolted.

We had two central banks in the 1800's before the Federal Reserve; The First Bank of the United States and The Second Bank of the United States. Both ended when the Congress refused to renew there charters at there 20 year renewal point.