Mises: The Propaganda War Against Capitalism

[Hum Dinger]

Capitalism unchecked will destroy itself. We saw this back in the 20s.

Actually we didn't "saw this back in the 20's" since back in the 20's we had one of the largest expansions of prosperity in history (which might have something to do with the fact that the period is most often referred to as "The Roaring 20's") and we didn't have anything that could even be remotely construed as "unchecked" capitalism during that period.

The prosperity of the 1920s was based on excessive credit and massive fraud. That's why the economy crashed in 1929.

It's a shame that financial manipulation obscures the realities of economics and allows people to destroy the future economy so easily.

 

[Timmy]

20s showed jus robber Barrons, monopolies , gov corruption , pollution, no middle class , unsafe work places . So yeah it's a good example of out of control capitalism .