If the principle is conceded that virtuous individual action can lead to chaotic social outcomes, then all manner of central state planning can be justified as not only of public benefit but as fundamentally essential. It is the validity of Say’s Law that stands as the gatekeeper of economic freedom and prosperity. Without it, economic fallacies justify state force, which is multiplied in the name of public salvation. Read more…

Technocratic Socialism is the effective state control of the means of production and concomitant privileged, riskless profiteering through bureaucratic and regulatory asphyxiation. This is what, I think, voters are rejecting.

If the Reserve Bank is usurped for narrow, corrupt political ends, it has the potential to not only spell doom for the rand but could imperil South Africa’s entire social order in unthinkable ways.

When Money Destroys Nations, my book with Philip Haslam, is about how hyperinflation ruined Zimbabwe, how ordinary people survived, and warnings for nations that print money.

WMDN Website  Read Chapter 1 Free  Buy the Book