… The crucial point is that Marx’s definition of ‘class’ and ‘class conflict’ under capitalism is hopelessly muddled and totally wrong. How can capitalists, even in the same industry, let alone in the entire social system, have anything crucial in common? Brahmins and slaves in a caste system certainly enjoy a common class interest in conflict with other castes. But what is the common class interest of the ‘capitalist class’? On the contrary, capitalist firms are in continual competition and rivalry with each other. They compete for raw material, for labour, for sales, and customers. They compete in price and quality, and in seeking new products and new ways to get ahead of their competitors. Marx, of course, did not deny the reality of this competition. So how can all capitalists, or even ‘the steel industry’, be considered a class with common interests? Again, in only one way: The steel industry only enjoys common interests if it can induce the state to create such interests through special privilege. State intervention to impose a steel tariff, or a steel cartel with restricted output and higher price, would indeed create a privileged ‘ruling class’ of steel industrialists. But no such class having common interests pre-exists on the market before such intervention comes about. Only the state can create a privileged class (or a subordinate and burdened class) by acts of intervention into the economy or society. There can be no ‘capitalist class’ on the free market.
500th post! The Mises Seminar in Sydney was a great success. Plans for organizing the second event are already underway. The speeches were recorded and are able to be viewed here (1080p) with more to come. We’re also pleased to announce a new Libertarian Publication:
To mark the historic Mises Seminar in Sydney, Liberty Australia is launching The Journal of Peace, Prosperity and Freedom. It will be dedicated to Austrian economics, revisionist history, legal arguments from an individualist perspective and other topics not adequately addressed by the IPA Review and Policy. The primary focus will be on Australia, although analysis of other countries is welcome too.
Cafe Alto, an awesome Jazz Bar in Amsterdam.
Jack Vettriano - Drifters.
I’ve never been interested in art to any kind of elaborate extent. This guy changed that. I was browsing a book store in Berlin and came across a calendar of his works. Literally went into my own world for about ten minutes, completely engrossed. The above isn’t part of the collection I first saw, though I can find it if anyone is interested.
“He’s a natural born world-shaker.”
Cool Hand Luke. As individualist as they come.
The light shines bright with this one.
Rothbard chilling in his apartment.