(Mises Institute)—Imagine someone giving a State of the World address that begins with a reminder that people possess free will and ought to be doing a better job of exercising it. This could possibly raise doubts about the speaker’s mental stability—at least until the talk went into the dark details of civilization’s condition.
If the state of the world reflects the choices people make, and if those choices are autonomous, originating from within the minds of individuals, then the speaker is making a solid point. But if we’re at the mercy of forces we regard as beyond our control, then the world couldn’t be other than it is.
So, which is it?
If we consult the philosophers who have discussed free will we will get a wide range of views, including the denial that it exists (as one example see the book Free Will, by Sam Harris), but everyday people accept its truth in an Aristotelian sense even if they’ve never heard of Aristotle.
In his writing on ethics, Aristotle distinguished voluntary and involuntary actions. When a person acts voluntarily he becomes “the cause and source of his acts. . . . And all that he does from deliberate choice he clearly does voluntarily. It is clear then that virtue and vice have to do with voluntary acts.” He continues, “Things done on the spur of the moment, and things done by animals and children can be willing [voluntary], but driven by desire and spirit and not what we would normally call true choice.”
For Aristotle and most of us, deliberate choice is what is meant by free will.
- Let’s take a look at the world we’ve created and ask some questions:
- Is the current economic and political landscape an accurate reflection of our choices?
- Have we, as members of a democracy, chosen to participate in the wars of the past and current century?
- Have we chosen to outlaw honest money and substitute bureaucratic control of easily counterfeited digits?
- Have we decided as a group that prices should rise continuously to allow big market players to get rich while the rest of us slowly decline?
- Are we okay with bailing them out when things blow up?
- Do most of us like seeing the Federal Reserve Note lose 98 percent of its value since the Fed’s inception?
Have most of us decided that merit is racist and diversity, equity, and inclusion is the solution? Are most of us on board with the need to severely curtail the economy to save the planet from human activity? Are we in agreement that social media needs to be regulated by people calling themselves fact-checkers, who will claim to spot untruthful and hateful posts, then have them censored and their authors permanently expelled?
Did we decide, through majority vote, that the Constitution’s interpretation is up for grabs, that certain amendments don’t mean what they say?
It might be that we find ourselves trapped in an alien world. It might be very far from what we wanted. It might even be a living nightmare.
Clearly, other people highjacked our choices. Other people, mostly politicians and professional busybodies, have exercised their choices while denying us the right to ours. Isn’t that how democracies work? We settle for an approximation of what we want by voting, and after repeated attempts at free will by proxy we end up with the near opposite of what we intended.
Free markets and honest money prevailed in the late nineteenth century, and prosperity abounded. In 1912 Americans went to the polls and elected Woodrow Wilson, who in his second term promised to keep them out of war but changed his mind—not the people’s minds, his mind. In his first term he gave us the income tax and the Fed, which covered the monetary demands of the war.
The economy seemed to roar during the 1920s, but it was built on monetary fallacy. As Hans Sennholz explains,
In 1924, after a sharp decline in business, the Reserve banks suddenly created some $500 million in new credit, which led to a bank credit expansion of over $4 billion in less than one year. While the immediate effects of this new powerful expansion of the nation’s money and credit were seemingly beneficial, initiating a new economic boom and effacing the 1924 decline, the ultimate outcome was most disastrous.
Thus, the crash, and a little later the New Deal, and with it the end of honest money. Recovery lingered always in the future until the Japanese surprised the living daylights out of the administration at Pearl Harbor. It continued to linger in the future during the second bloodbath.
To borrow a word from Lee Harvey Oswald two days before he was assassinated, we’ve been patsies. We’ve been set up.
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But we can’t push all the blame on our princes. We’re responsible for our lives, not them, even if we give them vague proxy power through elections. We’re ultimately the guilty party.
For instance, why didn’t Americans put up a fight when Franklin D. Roosevelt issued his decree to turn in their gold? There should have been riots in the streets, with Roosevelt and the Fed burned in effigy.
But what would they riot about, exactly? They were told gold caused the Depression. Was it true? They didn’t know. Who are they to argue with court economists? Somehow it didn’t feel right, but they were cold and hungry. Nothing felt right.
To make a deliberate choice to defend their right to own gold required knowledge most of them didn’t have. Instead, they trusted the experts, among them phobic deflationist John Maynard Keynes.
Keynes missed out on the Nobel Prize, but his überdevotee, Paul Samuelson, swept it up for him. Samuelson reviewed The General Theory in Econometrica in 1946:
Herein lies the secret of the General Theory. It is a badly written book, poorly organized; any layman who, beguiled by the author’s previous reputation, bought the book was cheated of his five shillings. It is not well suited for classroom use. It is arrogant, bad-tempered, polemical, and not overly generous in its acknowledgments. It abounds in mares’ nests or confusions.
Keynes was the most influential economist of the twentieth century. We’re being ruled by frauds.
Everyday people possess Aristotle’s deliberate choice, but their choices have been commandeered. Our Ivy League overlords claim to know better. Even adhering to the government’s famed food pyramid has backfired.
It may be true that most people will do anything if the price is right, as the Godfather clearly understood. But they still weigh the consequences. Money or even one’s life isn’t always the driver of choices. In Atlas Shrugged, productive people abandoned their jobs or took less demanding ones because they were on strike against a world that considered them sacrificial fodder.
Conclusion
One of the reasons so many people admire Ludwig von Mises and Murray Rothbard was their uncompromising resilience to ideological rot. They stood tall. They did not go along to get along, and we are infinitely better for it. In their vast repertoire of written works, available for a download on mises.org, they’ve provided us a robust Austrian economic theory.
We fight in the shadow of giants. Let’s not let them down.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
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