Thursday, June 4, 2009

George Reisman on demise of GM

Reisman in this post discusses the demise General Motors. He talks about it's glorious history.
It was once not only the world’s greatest and most prosperous automobile company but the world’s greatest and most prosperous manufacturing company. Its success, wealth, and economic power, were symbolic of the success, wealth, and economic power of the United States.
He mentions the reasons for this devastating and depressing loss. He talks about the unfortunate election of the wealth redistributive Obama. Isn't it ironic that the politicians who talk about redistributing wealth are the ones who ultimately cause it's destruction and in the end there is nothing left to distribute. They are like leaches whose bellies are never full and they never drop off. They are the parasites who destroy their host. That's why the countries who choose this path of anti-capitalism have a dark future. We have seen this time and again but it's the ignorance and denial which makes sure that history will keep repeating itself.

I suggest reading George Reisman's Capitalism: A Treatise on Economics. A free pdf replica is available for download. I am reading this book and I can tell you that reading economics with an Objectivist angle (Reisman knew Ayn Rand) is quite unique and illuminating.

Reismans blog is back on blogger. Read about Google's stupid handling of the whole affair.