The “End” of Modern Economics
I believe there is a fundamental misunderstanding about economics which has been the cause of any number of inhibiting laws. There are a lot of people who dream of overthrowing the current economic system and creating their own. What many of these people don’t understand, however, is that is positively impossible.
The idea of installing your very own taylor-made economic system is dependent on the idea that economic laws were created by man. But all man has done is attempt to regulate them. Economic laws are one of those sets of rules that lay beyond the realm of men. They’re not man-made laws at all – they’re universal laws, like the laws of mathematics, biology, or physics. They weren’t created on a whim, but rather discovered as we moved along throughout history, and that why our attempts to regulate economies to suit our own whims and intentions have all ended in failure.
Trying to keep values at a consistent level while the economy is inflated isn’t any more possible than getting five to pop up when two and two are put together. It simply doesn’t happen, mainly because economics obey their own set of special laws which can only be discovered, deciphered, and worked with and never changed. This is another reason why economic systems that are purely man-made – like socialism – tend to fail.
When you look at economics in this light, it gets difficult to justify trying to overhaul the idea of commerce. While economics are basically universal laws, they have the unique distinction of being the only set of universal laws men have actively tried to infringe on. We’ve never set up laws to regulate gravity, or tried to convince anyone of the idea that two and two don’t equal four. But we’ve tried nearly every technique we can think of to fight the laws of supply, demand, and profit, only to watch our attempts blow up in our faces every single time.
It really is foolish to try to regulate physics or metaphysics. That’s why we never set laws regulating them. Economics demands the same type of freedom in order to function without harm.
