Kevin Hua on Nostr: Maybe those on the left tend to think if we get rid of the money printer, the govt ...

Maybe those on the left tend to think if we get rid of the money printer, the govt can operate more “honestly ”, whatever that means. They see money printer as the root cause of our problems, but I would argue that money printer is the apparatus that exacerbates our problems, the root problems lie in the govt itself. The problem with socialism is that there’s no price for the means of production, but there are prices for the consumer good. With bureaucracy, the problem is the opposite, as we have prices for the means of production, but we don’t have prices for consumer good (education, healthcare, etc). Hence the famous saying ”The government offers them for FREE”

So I would say the same economic calculation problem is just as applicable as is the case with socialism. That’s why for classical liberals like Mises, the realm within which govt operates should be limited to law, defense and other goods that he thinks free market cannot offer. And for libertarians like Rothbard, he thinks there’s no exception for which free market fails to provide. But either way, they all agree that govt should be shrunk as much as possible, so that the “ocean of calculation chaos” can be minimized as much as possible.