It becomes even funnier when the example that perfectly demonstrates (American) libertarian societies is the hermitcraft Minecraft smp. A world with limitless supply, totally equal means of individual production, no constraints for expanding private property for anyone, etc. It's literal fantasy
Pretty understandable from a system developed when the prevailing belief was quite literally that there will always be rich, fertile, unsettled land if you just keep going west.
I love how Adam Smith was literally mocking market absolutists when he coined the term “invisible hand”. Like he was mocking people who believed the market was a self regulating divine entity, and likened how they saw the market regulating itself to how god would “regulate” nature, with his “invisible hand”.
None of these nerds ever read Adam Smith and keep using his words to support them…
Smith also agreed with Marx that under capitalism the wage for most labor will spiral down to the lowest amount capable of keeping a human being alive, damning the proletariat to live in filth regardless of how much wealth they're actually able to produce. If you look at modern libertarian arguments against wealth redistribution, they all tacitly admit that the system is designed to keep an army of people fighting with one another to be the one who lives with the least. That's what their inflation argument is, it's an admission that no matter how much wealth labor creates, or even how much they're allowed to keep, the cost of living under capitalism will simply rise to ensure that that amount is the new bare minimum. That's what happened in America after WWII, it took less than one generation of unfettered capitalism to go from "one member of a family can make enough money to keep that family in relative luxury" to "between the two of us we have four jobs and we still go to bed hungry to afford our kids' medicine".
Yup, pretty much. People do the same with other authors too, not just in economy. (Machiavelli comes to my mind.) Except that for economy you always have this bullshit in the defence of someone's interests, that may or may not be the one babbling it.
I never got this: are US libertarians democrats or republican? Or both? Because we have more than 2 parties here and they have their own so to say anarchocapitalist party
Up until reading this comment I'd completey forgotten about ancaps. They used to be a big taking point on reddit. Just goes to show how irrelevant they were the entire time and how easy it is to distract from important stuff.
You goddamn commies don't understand. When your kid dies from tainted baby formula, you quit buying baby formula and the company goes out of business. It regulates itself!