The current economic crisis is being blamed on the ‘free market’, but we know that this is false. With the Federal Reserve fixing interest rates and fudging the numbers for ‘prices’ (i.e. – the CPI does not include the costs of food and energy), our economy is anything but free or honest. Additionally, the subsidized housing boom, conducted mostly by Fannie and Freddie have created this centrally planned economic bubble.
The Austrian theory rings true for two reasons. The first is that it espouses true freedom for the individual to participate in a fair and honest economy – prices and interest rates are determined by the market, and the currency is backed by wealth. Freedom is always right.
The second is that it opposes centrally planned and managed economies. We know that no ‘expert’ or group of experts is smart enough to effectively and accurately plan an entire economy or an entire society. The world is too complex, and the temptation for corruption in such a powerful position is too strong.
Revolutionary is still learning economics according to the Austrian school, but because of their emphasis on personal freedom and their opposition to centrally planned societies, we feel that they are most definitely on our side. They are also our neighbors – their offices in Auburn, Alabama are not far from Revolutionary’s home in Atlanta, Georgia. They have our full support, and we leave you with a quote from their About page.
“Everyone carries a part of society on his shoulders,” wrote Ludwig von Mises, “no one is relieved of his share of responsibility by others. And no one can find a safe way for himself if society is sweeping towards destruction. Therefore everyone, in his own interest, must thrust himself vigorously into the intellectual battle.”