CHOOSE A BLOG

Should the Government intervene in the Economy?

Posted on: July 12th 2019
By: Harley Dalton, Area Manager, Greater Manchester.

UK Liberty Party are morally opposed to government intervention in the economy as it is a misuse of the proper power of a legitimate government. However, is there an economic reason that also shows the necessity for government to stay out of the economy? Harley Dalton discusses...

As the saying goes,"anything that can go wrong, will go wrong" This pessimistic statement is known as Murphy's Law, and is also expressed as, "things will go wrong in any given situation, if you give them a chance."

We generally know that the scope of variables that can go wrong in any given situation is much broader than those that can go right, and that the severity of those wrongs can outweigh even the benefits of a best case scenario.

You'll probably be alright crossing a road with your eyes closed, but unless you get to drink from the Fountain of Youth on the other side, the payoff is unlikely to be as equally good as the bad outcome of getting flattened by a truck.

Likewise, I don’t know anyone who has ever been on such a great night out that it was worth them dying of alcohol poisoning.

Because things will go wrong in any given situation if you give them a chance, and because those things can be unexpected and potentially devastating, we adopt behaviours to mitigate risks and to avoid making irrational gambits or harmful trade-offs.

The more complicated and ambitious a plan becomes, the more factors in play, the more likely we are to have made a mistake, and therefore the more care we must take to make sure things don’t go wrong, and the more sensible it becomes to share the workload so as to diffuse the risk.

How, then, does this apply to Government intervention in the economy?

It's worth recalling something I wrote in my last blog post: "Economics considers not only the immediate effect of a decision upon one person or group, but the wider consequences upon all people and groups over time."

The economy is highly complex. You are one of over 5 billion adults working within one of over 200 million businesses, each of which provides an untold quantity of goods and services to an untold number of consumers. Every person acts as an individual unit within this network, each making economic decisions according to their own unchartable sequence of time-sensitive information and preferences, from the simple fact of how much money they have right down to their own natural psychological biases. Individual transactional decisions per day could number in their trillions.

Evidently, it is extraordinarily difficult to know how even simple actions might play out over time, nor how they might filter outwards from you to everyone else. Tracking, charting and planning fully against such an incomprehensible amount of data is usually reserved for Science Fiction like Iain Bank's Culture novels, and for obvious reasons – it would be quite simply impossible in real life.

This, ultimately, is the problem with economic intervention from the government. The complexity of the economy at scale is such that any and all decisions you make are going to inevitably affect something or someone in ways that you can't predict and haven't planned for; the more ambitious your plans, the more factors in play, the more potential for unintended, unseen sparks to trigger raging economic wildfires.

Fortunately, there is a solution. In a free market economy, each individual takes responsibility for their own decisions. They use only the information that is relevant to them, making it a lot easier to apply Murphy's Law to their decision making, to mitigate against risks and to reach more positively balanced outcomes. More importantly, one person acting on their own interests is less likely to cause widespread damage than someone acting within the interests (allegedly) of the nation.

Some people suggest that this is an untenable solution, though – running your own life is very hard, after all. Simple things can often go drastically wrong. You could end up with a Ferrari, but it’s a lot easier and far more likely that you'll become a weed-smoking wastrel instead. Such risk – also known as freedom – is uncivilised. Something must be done!

Maybe these pearl-clutching cowards have a point; even one death is tragedy, and it's tough not to sympathize with human suffering, even that which self-inflicted.

Then again, maybe significantly increasing the risk of accidentally starving millions of people to death, a la Maoist China, Soviet Russia, modern Venezuela and more by giving massive power to some self-appointed experts in government isn’t so great either.

To read more of Harley's thoughts visit his blog https://harleydalton.home.blog

The views expressed represent those of the author and do not necessarily represent the views of UK Liberty Party. UK Liberty Party sometimes publishes articles we may disagree with because we think the article provides information, or a contrasting point of view, that may be of value to our readers.

UK LIBERTY PARTY

UK LIBERTY PARTY
Gemma House
39 Lilestone Street
London
NW8 8SS
T: 01206 803837
support@uklibertyparty.org
UKLP APP
Get it on Google Play Click or scan to download.

Our Philosophy

We are the only UK party that consistently holds that your Rights are inalienable. We will not accept any violation of your Rights.

We do however have a very different perspective as to what Rights are. Unlike those that claim Rights simply exist or are God given, we take the approach of first asking "What makes you human?"

The answer to that is the basis from which the moral principle of Rights is derived. That is; your mind. You are not born with any innate knowledge. You do not instinctively know how to grow food or hunt, how to make clothes or build a house. Everything that you do begins with your mind. Your mind is your tool for living.

To be able to use your mind you have to be free to think, to reason, to choose, to act. The only way to prevent you from doing this, and thus to stop you living, is force (incl. coercion) from others. Rights are the moral principle of freeing you from force by others.

Of course, this alone cannot stop those that choose to initiate force against you. Some people will do bad things.

This is where the political recognition & protection of your Rights comes in to play. A political system simply says that a society will not tolerate someone violating your Rights and that those that do will face punishment under the Law. This is freedom.

You can live your life knowing that those around you understand the consequences of violating your Rights. Your interactions with others are peaceful and voluntary.

Being able to take the neccessary actions to fulfil your life by exercising your freedom, guaranteed by your Rights, is true Liberty.

EDUCATION

Most people recognise that private schools are cognitively superior to government schools but, taxed to support government institutions, are unable to pay twice for their children's education. With the abolition of the government schools must come the repeal of the income and property taxes that finance them, making it possible for millions of parents to now afford quality private education.

By taking schooling out of the government's hands and placing it where it belongs — in the hands of parents — we respect the right of individuals to choose the school they want for themselves and their children, we definitively terminate governmental initiation of force in the educational field, contributing to freedom of the mind, and we vastly improve the educational levels in this country. A free market of education will deliver superlative levels of literacy in this nation.

Moreover, a marketplace fully open to competition, teems with diverse options; for example, the restaurant industry offers a wide array of choices — from dozens of popular fast food chains to diners, sandwich shops, family restaurants, ethnic restaurants, and all variations up to and including establishments offering five star cuisine. (And supermarkets are a cornucopia of diverse foodstuffs to be purchased and prepared at home.) Similarly, when the monolithic government school system is abolished and education is privatised, a vast array of options will emerge to meet parental demand: More children will be home-schooled; tutors will offer academic services in a wealth of subjects; teachers will open tiny individualised schools; education corporations will be founded and open large-scale school systems across the country; and on-line education will proliferate.

HEALTH CARE [NHS]

The provision of universal medical care has become prodigiously more and more expensive. At the same time, not coincidentally, we recognise that the United Kingdom is not a free market system, it is, and has long been, a mixed economy — an unstable amalgam of capitalism and socialism, of freedom and government controls, of individual rights and statism.

We maintain that a National Health Service, backed and enabled by government intervention in the health care field, has immensely boosted demand for medical services without generating a corresponding increase in supply. The market feedback mechanism of supply and demand is broken and thus costs of provision precipitously escalate.

A free medical marketplace will enable the next wave of bio-medical advances, including ever more effective pharmaceuticals, pioneering surgical techniques, disease-detecting technology, as well as other life-saving developments.

We support a gradual but full phasing out of National Insurance and the National Health Service, over a period of several years, giving responsible individuals sufficient time to make alternative arrangements to pay medical costs, and for private medical charity organisations to form.

ENVIRONMENT

The earth is roughly 4.65 billion years old, possessing therefore a vast history in which climate change occurs naturally and ceaselessly. For example, millions of years ago, long before human beings existed, much less industrialised, huge naturally - driven temperature swings — significantly larger than the 1.5 degree Fahrenheit rise of the past 150 years — caused the onset and, in time, the cessation of ice ages.

We recognise that the best opportunity for human life to flourish during such periods is provided by electric power, indoor heat, thermal clothing, advances in medical science, air conditioning, sun screen, and the like — all products of applied science, technology, and industrialisation. Whether or not human industrial activity contributed to the slight warming of the past 150 years, two truths are certain: This mild warming, despite decades of alarmism, poses no immediate catastrophic threat to human life — and government's restricting of the economic activity required to attain flourishing life across all climates, is the exact opposite of a proper course of action.

The human environment is kept clean and safe primarily by advances in science, technology, and industrialisation. For example: development of steel and concrete enables construction of reservoirs, water mains, indoor plumbing, and sewer mains that keep sewage out of the drinking water; advanced technology enables men to drain swamps that are breeding grounds for malaria - carrying mosquitoes; heating and central air conditioning permit human beings to live comfortably in extreme climate conditions, without breathing smoke from indoor fires; and so forth.

Eliminating all subsidies to both fossil fuel companies and "alternative" or "green/renewable" energy companies, and a definitive end to government incentives/penalties for energy producers will encourage free thinking entrepreneurs to develop and cultivate earth's resources in service of human life.

ECONOMY

Centuries of free(ish) markets and statism demonstrate two practical conclusions: When the individual's rights are protected to freely engage in production and trade, immense advances result in innovations, in creation of both material and intellectual wealth, in living standards, and in human life expectancies — but when the individual's rights to voluntarily produce and trade are curtailed by government interference, when statism in any form is rampant, then progress stagnates, the creation of wealth plummets, living standards diminish, and life expectancies decline.

We therefore advocate for a strict legal separation of state and economy in the UK, just as, and for the same reason, there exists a legal separation of state and church. Just as religious belief and practice is — properly — a matter of private choice and initiative, so are men's economic choices and activities.

If business persons, like religious persons or clergy, initiate force or fraud, they should be properly prosecuted under the laws of the criminal justice system that protect individual Rights. But if they initiate neither force nor fraud, then the government must be constitutionally debarred from interfering with their activities.

It is time that the 'free' in free market actually meant something.

COVID vs RIGHTS

Back in March 2020 we were warning the British public and wider world about the dangers of our political classes' obsession and hubris with lockdowns and similar draconian measures. While the government were issuing slogans and reassurance about "2 weeks to save the NHS" and "seeing out the spring", we were predicting many months, perhaps years of stubborn policy failure, u-turns and flip-flops and, in the meanwhile, economic and social decay as a result of an obviously flawed and morally dubious policy approach. Likewise, while we were promoting sense, reason, proportion and hope, using widely available public data about the nature of the virus, governments and media conspired to conduct a deliberate campaign of fear to justify greater and lasting use of state power to curtail, abuse and violate your Rights, Freedom adnd Liberties.

The Government and Opposition in cahoots and a compliant media conspired to sacrifice the many under the arrogant delusion they could play heroes to the few; the result of this has indeed been the sacrifice of the many - many livelihoods and businesses, as well as the education, financial stability, social fabric and personal lives and happiness of millions. Despite all this, however, the government has not succeeded in solving a health crisis; rather, it has sparked one in the soaring numbers of untreated afflictions, notably cancers, cardiovascular problems and mental health. Tens or hundreds of thousands of people will die as a result of the government's policy. The government had the information to avoid this. They chose to do it anyway. To them your Rights are by permission. This must never happen again.










FORGOTTEN PASSWORD?



Please use the form below to send us a message...





NON MEMBERS ONLY
Please use the form below to subscribe...




Forgotten your login details?

<<    



NAC

"National Administrative Committee"

The NAC controls and manages of all the affairs, properties and funds of the Party consistent with the Constitution.

They oversee the organisational structure that implements the aims and purposes of the Party.



POINTS

"Positive Interaction System"

Throughout the website there are Member activity links; introducing new members, supporters, e-news subscribers, invites, MAPS, logging in!

Whenever you complete an activity you will be awarded POINTS. You can save them to later be redeemed for goodies!



MAPS

"Make A Proposal System"

It is the method by which Members can have a real voice in helping to create Party Policy and thus guiding the Party towards its main goals of a Codified Constitution and a new Bill of Rights to protect individual Rights and individual Sovereignty.

We also aim to minimise the size of Government both physically and in its scope. This is not a quick fix and will require many incremental steps. The ideas of the Membership in achieving these goals is fundamental to the success of the Party.

Refer&Earn

"A Partnership For Growth"

One of the most vital aspects of a political party is ensuring that enough revenue is generated to continue to grow and provide an effective and efficient platform for members to help spread the parties message. We think we have gone a long way to solving this with our innovative incentive scheme that pays you to help us grow!

You'll own your own business but we'll provide you with -

1) Industry leading products & services.
2) FREE with Membership.
3) Generous Commission and Bonus Structure.
4) Free Training.
5) No stock, no staff.
6) Work from home.
7) Spare-time, part-time or full-time.
8) No deliveries.
9) Mobile App Management.
10) Free websites.

Simply complete membership registration and download the UKLP App to register.