The Politics of Economics

Economic Empowerment

I have seen this often that whenever people talk about economic empowerment, they are labeled as — “politically motivated”. It is said as if there is some other way to do the same thing. Look, the government is the largest business of any country. It by default is a monopoly and tries to protect its status by whatsoever means is in its reach. It prints our currency. It collects money from us for its schemes and policies. It regulates our resources according to its own set standards. And in many more ways, it tries to meddle with our lives by providing services coercively. So, who in the right man is here to advocate that economical empowerment has got nothing to do with the government; nothing to do with politics. No! Rather it is because politics is the basis of the economy for any nation — that any entrepreneur would and should talk about politics if his goal is economic empowerment for one and all.

There are many ways that political ideologies affect the purchasing power of our currency. On one side we have a laissez-faire market, where the government intervention is nilpotent if not minimal. On the other, we have the socialist scheme of welfare politics whose central motto is — “From each according to his capability to each according to his need”. This system has been implemented in many nations and it is an utter disaster — China, Soviet Union, Cuba, East Germany, Ethiopia, Poland, Romania, Venezuela, and so on. Yet we hear the left harping about the fact that those are not real instances of socialism. But the truth is — everyone is not made equal — therefore by treating everyone equally we tend to create inequality. Socialism makes people lethargic to market shifts and dynamics. There is no real incentive for labor. It sets us back as a nation. That’s why socialism never works. This is only one instance where political ideology affects the economy.

There are many more. In the laissez-faire market, there is a promotion of individual liberty. You own what you deserve, and you deserve what you demonstrate. This helps us become more self-sufficient. The left is in stark opposition to this idea. It promotes taxation, regulation, subsidies, and a dozen different form of intervention make it appear as if those are by default ethically important. From a capitalist’s standpoint, everyone must pay for their own welfare schemes. But the way the state meddles in our matters — takes away the naturally emerging market competition thereby leading our economy to either oligopoly or monopoly. So, those who are against capitalism because they think that it feeds only the crony capitalist and that the poor remain poor or become poorer — must really look at the
source of monopoly. Yes. Government. It holds a monopoly over a dozen essential services. Howsoever it may make you feel that the government is ‘by you, for you’ and so on — at the end of the day must hire people to get its job done the way it deems fit. To be honest, it is a business and there is no reason for it to be the only one.

Imagine a world where there is no central leftist authority. Wars must be financed by two people who willing want to fight; will be fought by people who are paid for their service; shall be fought on their own property. Otherwise, we will have a situation where we will have warring nations without the citizen’s consent funded by their own money. No one in their right mind would want to fund a war that could put their families at risk. I would leave you with that!

--

--

--

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Outlook 2019

The US consumer is strong

Hawkish but not as hawkish as market feared…

The Game Field of Mesoeconomics

The Coming Big Rationing

Rates Down, but Not Out

My takedown of Maker Dai

Ways Legally Pay Less Income Tax

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Hitesh Mistry

Hitesh Mistry

More from Medium

A Market Pause Might Actually be a Good Thing

Meet MacKenzie

The settling of scores

WHY SHOULD YOU SAVE