Laurie Thomas Vass
GabbyPress.com June 15, 2022.
Jeffrey A. Tucker, an economist and president of the Brownstone Institute, recently wrote, “This Is How Prosperity Dies,” [The Thinking Conservative, June 10, 2022], about how American prosperity died.
His article is much like reading the cause of death certificate for the new sudden adult death syndrome, also known as SADS.
His article left me sad because it had so few descriptive details on what caused the death of American prosperity, and gave no clues on how to resuscitate the poor victim.
We extend his analysis to include how and why the Democrats killed American prosperity, and offer our strategy for the only path back to liberty and prosperity.
Tucker cites an economic relationship between the economic consequences of the pandemic response and the end of American prosperity.
“Most writers are just going about their merry way as if there is no relationship at all between the pandemic response and the gradual and systematic end of American prosperity and tranquility.”
A more robust treatment of this economic relationship is that the Democrats were successful in destroying the economic mechanism that transmitted and distributed economic prosperity to the middle and working classes.
In other words, the Democrats destroyed the economic structure of the American economy in order to implement a more perfect version of a global kleptocracy that benefits the elite ruling classes.
For example, at the top of the American political kleptocracy, the Biden family has obtained about $35 million from the Chinese communists, in the form of “rent-seeking payments.”
Rent seeking is unearned, unwarranted profit from crony corporate capitalism, using the agencies of government to direct benefits to yourself and your cronies.
We explain in our recent book, “America’s Final Revolution,” [Gabbypress.com, June 2022.],
“Political and financial elites who benefit from the existing status quo distribution of existing products and markets can therefore be expected to engage in crony capitalist rent-seeking, using government revenues to maintain their income…The political institutional structure, created by [the Democrats], grants unelected political power to the elites who use the agencies of government to maintain their income through crony capitalist control over government taxes and spending…The financial system, created by [the Democrats], allows unelected central bankers to manipulate the money supply, in order to control the direction of the market, to suit their own social welfare.”
Tucker’s analysis gets at a partial explanation of the consequences of the pandemic response by raising the issue of a decline in economic growth, caused by the pandemic response.
The cause of the end of prosperity in America is that the U. S. economy has stopped growing, and the benefits of what small growth occurs is tightly distributed to the corporate and political elites who are linked to the one-world globalism of trade with the Chinese communists.
We explain in our book that the American economy has settled into a long-term depression, called a Nash equilibrium, similar to the economic depressions of 1892 and 1930.
Even if the Democrats were suddenly dislodged from unelected power, and economic growth miraculously returned, it would take the U. S. economy years to recover from the economic damage caused by the Democrats.
We explain in our book,
“The equilibrium associated with the Nash attractor point, and the productivity improvements associated with mass produced standardized products, do not lead to economic growth in the next period, because future economic growth depends on prior capital investments in real production, not fake money creation [by the Fed]…The social conditions of low economic growth at the Nash equilibrium lead to greater levels of conflict between elites, who desire to maintain their incomes, and the social classes described by Sumner as the ‘forgotten man.”
Economic growth is caused by private capital investments, primarily in small technology ventures, that create new future markets and new flows of income that benefit the middle and working classes.
The Democrats were able to kill prosperity with the ideology that Marxism would be a more “fair” economic system than entrepreneurial capitalism.
In other words, “fair,” for the Democrats, means equal rewards, distributed by the agents of government, who, of course, take their cut right at the top, leaving the middle and working classes scrambling for the crumbs, which happen to fall off the plates of the elites, like Hunter Biden, Hillary, and Pelosi’s drunken husband.
About Gabby Press: GABBY is short for The Great American Business & Economics Press. The political ideology of Gabby books is natural rights conservative. Rather than dwell upon the daily news of “he-said, she-said,” between Democrats and Republicans, our mission is to describe a pathway to the future for natural rights conservatives. We believe there is only one path back to liberty. www.gabbypress.com