Paleolibertarianism. Anarcho-capitalism. Austrian economics. Substack: https://xitter.cf/t.co/f8gja3K5n2

Considering leaving Britain
Joined October 2016
In America's Great Depression (1963), Murray Rothbard shows how, contrary to the prevailing narrative, the prolonged and painful recession was a product of state intervention and artificial monetary expansion.
2
7
1
38
1,377
Creative Deduction retweeted
🚨NEW: The Online Safety Act has been a failure, according to a new report from Ofcom. Ofcom have found "no significant change" in children encountering harmful content since the law came into effect last July. This is despite the signifigant threats to free speech and privacy.
219
1,518
415
12,278
494,258
Creative Deduction retweeted
Be a small town politician. A child puts bunny ears on your photo and comments on how you dress. So mad you report it to the police. Cops show up at the child's house. Causes international outrage. Now the bunny pic is in the New York Post. And your Google results are just rabbit ears forever.
A UK teen made fun of a local politician. Then police showed up at his door. trib.al/0DnnRkr
33
566
13
3,973
45,986
Creative Deduction retweeted
The UK curve just Laffered…
73
591
74
1,906
58,494
H.L. Mencken put it with characteristic precision: “For every complex problem there is an answer that is clear, simple, and wrong.” The observation makes the weakness of democratic politics crystal clear: in a system where power depends on winning votes, the incentive is not to pursue the best policy but the most saleable one. A measure that can be explained in a slogan, framed as compassion or toughness and delivered with moral certainty will almost always defeat a more careful alternative that requires trade-offs, delayed benefits or uncomfortable facts. Complex problems - crime, housing, education, immigration, public finances - rarely have simple solutions. They involve conflicting interests, next order consequences and limits on what government can actually achieve. The better response is often narrow, incremental and hard to advertise; it may ask voters to accept short-term costs for long-term gains or admit that some desired outcome cannot be engineered at all. That is a difficult sell. Politicians who attempt it risk being outflanked by opponents offering simpler stories: more spending, harsher penalties, broader rights, easier money. The electorate, busy with its own life and only intermittently attentive, is more easily moved by clarity than by complexity. Ignorance is not universal, but it does not need to be. It only needs to be decisive at the margin. The result is a recurring pattern. Policies are chosen less for their likely results than for their capacity to signal virtue, resolve, or generosity. The clear and simple answer wins the argument in public, even when it fails in practice. Mencken’s warning endures because the incentive structure of mass democracy continually rewards it.
5
30
4
72
1,365
A stolen watch has an identifiable owner and an identifiable thief. Slavery and conquest do not. No living person was enslaved by a living person. No living Briton stole land from a living Caribbean or African claimant. Collective guilt and collective entitlement dissolve the basic requirements of restitution: a specific wrong, a specific wrongdoer and a specific victim who can be restored.
A stolen watch doesn’t become yours just because you pass it down to your children. So why apply a different rule to stolen labour, wealth and land? Reparations are about inherited benefit and inherited loss. Time doesn’t erase injustice.
9
13
1
43
1,122
Creative Deduction retweeted
Why does everything a government touches turn to shit? Every tax, regulation, and price control produces an economic consequence its architects either ignore or actively conceal from you. Murray Rothbard's Power and Market, published in 1970, tears apart the intellectual cover governments use to justify intervention. Rothbard builds the case like this: no form of state interference improves on the voluntary exchange economy. Every intervention distorts prices, misallocates capital, and ultimately harms the very people the policy claimed to protect. Take price ceilings. New York City imposed rent control in 1943 as a wartime emergency. Eight decades later, landlords still face legal caps on rents, and the city faces a perpetual housing shortage. Capping prices below market rates destroys the incentive to supply. Investors channel capital elsewhere, housing stock deteriorates, and you pay more for less under the table through bribes, key fees, and "finder's fees" to brokers. Rothbard also categorizes interventions. Autistic intervention forces you to act or refrain without directly involving your property in exchange. Binary intervention forces an exchange between the state and a private party. Triangular intervention forces exchange between two private parties on state-dictated terms. The specificity matters because each category produces distinct distortions, and grouping them all as "regulation" lets politicians dodge accountability for the specific damage each one causes. Then there is the calculation issue. Governments do not possess the price signals needed to allocate resources correctly. Mises already proved this in 1920, and Rothbard extends the argument: intervention actively destroys the information system that makes optimization possible in the first place. Free market thinkers after Rothbard have added data, case studies, and formalized models. None have overturned the logic. Governments intervene, prices lie, and you bear the cost.
33
167
16
560
10,214
Government intervenes in the market. The intervention creates new problems. Government blames capitalism. Government demands MORE intervention to fix the problems it created. Rinse and repeat. Mises and Hayek warned us about this nearly a century ago.
Right, but need some capital controls to prevent easy exit.
12
10
6
88
14,388
Creative Deduction retweeted
France is about to go kaput – ditching Brexit now would be utter madness As EU country's economy tanks in the wake of furious riots, UK's current position could be our greatest shield. But while the French are revolting and setting things alight, a far more dangerous firestorm is raging through European financial markets. Emmanuel Macron’s bloated state is facing a catastrophic fiscal reckoning that threatens to plunge the Eurozone into an unprecedented existential crisis. The crucible of this is France's out-of-control welfare state and an embarrassing lack of economic growth. Crucially, British taxpayers are not liable for the EU’s colossal mountain of debt. Yet Left-wing politicians continue to argue for dragging Britain back into Brussels' orbit. Hitching our wagon to a sinking, slow-growth EU would be utter madness. As France burns and the euro teeters on the brink, Britain’s Brexit freedom is our greatest shield. express.co.uk/news/politics/…
34
160
8
285
2,695
Karl Marx made four big predictions about the future of capitalism - and on each, history delivered the exact opposite . Marx predicted the disappearance of the middle class, with society polarising into a tiny group of capitalists and a massive, impoverished working class. Instead, the middle class exploded. Most people in developed nations today are middle class. He claimed the working class would become progressively poorer (“increasing immiseration”). But workers in capitalist countries instead became dramatically richer, with real wages, living standards, life expectancy and consumption all rising sharply. He believed capitalism would lead to ever-worsening crises and its own inevitable collapse. Capitalism, of course, has proven extraordinarily resilient, lifting billions out of poverty worldwide. He expected socialist revolution to break out first in the most advanced capitalist nations, specifically Britain, Germany and USA. Revolutions instead occurred in backward, agrarian societies like Russia, China, and Cuba. Marx got all this so wrong because he fundamentally misunderstood the dynamic and creative power of free markets. Far from impoverishing the masses, capitalism has produced the greatest rise in living standards in human history. The “proletariat” he wrote about now owns homes, cars, smartphones and enjoy vast improvements in health and education that previous generations could barely imagine. The empirical failure of Marx’s predictions is one of the most complete in intellectual history. But sadly, his ideas continue to influence politics and academia long after reality disproved them.
135
256
49
841
24,232
Creative Deduction retweeted
Exactly this... 👇 Put another way, the clickbait about a '£1 trillion UK wealth fund' requires you to believe that, rather than ramp up NHS spending between 1997 and 2010, a Labour government would have said 'lets buy some US Treasury bonds and Asian equities' instead... 🤔
Anyone drawing parallels with Norway off the back of this story should do so fully aware of the investment mandate of Norges (below). If UK wants to start now then it shouldn’t be buying green energy assets (which is this new fund’s mandate) but, probably, a global equity ETF, a global bond fund, and buyback some of that gold sold 25y ago….
5
31
3
183
4,803
Creative Deduction retweeted
How many Americans actually just straight-up starve to death? In the latest data, from 2024, there were 22 cases. And not even one of them was about poverty making it unaffordable to obtain food.
How many Americans live paycheck-to-paycheck? How many are starving? The answer to both questions is--despite what you might have heard from the news media--not many. Link: cremieux.xyz/p/how-many-amer…
214
1,119
73
10,901
474,834
Gustave de Molinari was the original anarcho-capitalist. The pioneering economist is widely recognized as the first theorist of market anarchism and stands as a prominent figure in the French Liberal School alongside thinkers like Frédéric Bastiat. Born in Belgium in 1819, the French economist pushed classical liberal principles to their absolute logical conclusion: if the free market is the best mechanism for producing goods and services, it must also be the best mechanism for providing security, justice, and protection. In his groundbreaking 1849 essay, The Production of Security, Molinari challenged the foundational assumption that government holds a necessary monopoly on violence. He argued that the state operates as a coercive monopoly that inherently produces low-quality, overpriced protection. Instead, he proposed that sovereignty should belong to the individual, who should be free to buy protection from competing private insurance and security firms. He believed that competition in the marketplace would naturally incentivize these firms to resolve conflicts peacefully, efficiently, and affordably. While his radical anti-statism alienated many of his contemporary classical liberals - who favored a minimal "night-watchman" state - Molinari remained an influential voice for laissez-faire capitalism throughout his long life. He spent decades editing Le Journal des Économistes, a premier economic journal, where he fiercely defended free trade, peace, and individual liberty against rising tides of protectionism and socialism. Today, Molinari is celebrated as a visionary who bridged classical liberalism and modern libertarianism, laying the conceptual groundwork for subsequent, more famous thinkers like Murray Rothbard and Ayn Rand.
4
33
1
69
1,551
Creative Deduction retweeted
This man is unfit to be chancellor. We don't have a sovereign wealth fund because we spent the money on the NHS, education, lower taxes etc. Norway had one because it produced similar fossil fuel exports but are 10x smaller. So they had quite a lot spare.
‘We'd have a British sovereign wealth fund now that will be worth probably a trillion pounds’ Chancellor @JohnHealey_MP suggests what Britain could have gained if it had set up an energy wealth fund like Norway’s back in the 1980s #Peston
57
79
6
668
18,134
True. Cavemen were busy 7 days a week trying to stay alive. Work has always been around. The challenge is producing more with less. Those who solve that challenge best can end up as billionaires.
The Billionaires DO NOT create jobs. Stop saying it. Without billionaires, we would still build things, design things, teach things, sell things, buy things. What Billionaires do is capitalise profits. That's just it.
5
8
35
752
Creative Deduction retweeted
Left wing politicians simply don't understand what prices *are*. Missing this fundamental economic reality is why they - without fail - make things even worse.
26
70
5
428
47,528
Creative Deduction retweeted
The state controlling how much rent can be charged is not rent control. I am very intelligent 🥴
The rent was reduced to a market rent. That's all the tribunal system does. Enough with the hysterics. This does not meet any reasonable definition of rent control. It's a form of mediation for landlords & tenants. Most landlords are fine with it. Just want proper resourcing.
7
27
508
9,228
One of the most pertinent sentences ever written about economics and politics is this, from Friedrich Hayek: “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” Hayek was not arguing against reason or planning in general. He was exposing the dangerous pretence of knowledge: the arrogant belief that experts and governments possess enough information to deliberately design and control complex social and economic systems. What we call the economy is the result of millions of individuals making decisions based on their own unique, local and constantly changing knowledge. Prices, traditions and social norms emerge as a spontaneous order that no central authority can replicate. When governments try to impose top-down designs - whether through industrial policy, price controls, wealth redistribution or social engineering - they inevitably fail because they lack the dispersed knowledge that only free individuals possess. This insight explains why central planning has repeatedly produced poverty and authoritarianism, while free societies have generated unprecedented prosperity. The planner’s fatal error is believing that society is like a machine that can be engineered, when in reality it is a complex, evolving order far beyond any single mind’s comprehension. Hayek’s message remains urgent today: humility is not just a virtue – it is an economic necessity. The more policymakers claim they can design the future, the more dangerous they become. It is the role of economics, properly understood, to expose them.
13
76
7
157
4,709
Creative Deduction retweeted
Someone who was willing and able to pay £1,650 argues that the 'market rent' is actually just £1,400. Incredibly, the court (mostly) agreed... 🤯
35
33
1
436
21,603
Creative Deduction retweeted
The latest ad from the Irish Government to the Irish people, who are the font of all problems in the country and desperately need to be stopped from their bad behaviour. This time, it's hugging your grandkids.
1,208
988
534
7,800
2,032,605