Extreme Capitalists

Just a quick plug: Less than a month old, Extreme Capitalists is an Australian libertarian blog by Daniel Farmilo and John Tate.  Dan is known round these parts for his occasional comments, and was also the LDP candidate for the seat of Richmond in the 2007 federal election – where he was (in)famously labelled as both “to the right of Ghengis Khan” and “left of Lenin”.

Worth a read, and worth adding to your bookmarks, blogroll and/or RSS feeds.

12 thoughts on “Extreme Capitalists

  1. I wonder how many such sites exist? Small, worthwhile places that nobody knows about? Extreme capitalist sounds a bit extreme, and might put people off.
    Still, good luck! (How about a more libertarian greeting?)
    Tax-free profits!

  2. I think “Extreme Capitalists” is a good name… a ridiculous number of people are ready to criticise on the evils of “extreme” or “unfettered” capitalism, that I’m happy to see someone take the label as a badge of honour.

    It isn’t just that people are sick of “crony capitalism” (ie, corporate socialism) – they have a genuine fear of companies having “too much freedom”.

    My challenge in these cases is to try to get them to tell me of such examples… if they come up with them, they are almost ALWAYS the result of government either getting into bed with them or preventing adequate competition, or innovation, etc. I’m always at pains to explain that more freedom is better – ie, the “extreme capitalism” to which they are so opposed, is the answer.

  3. “Crony Socialism” could be a good term to fling around more along side “Neo-socialism”. What Rudd has done for the car industry is crony socialism.

  4. The Extreme Capitalists name is just a dig at Rudd. I figure extreme capitalism is two guys on BMX bikes flying up opposite sides of a vert ramp and voluntarily exchanging goods in mid-air.

  5. I figured it was tongue in cheek. I like the example though – a bit like extreme ironing 😉

    In the same vein, I’ve been meaning to get a T-shirt printed with EVIL NEO-LIBERAL on it.

    People most often use the market failure or monopoly argument against so-called extreme capitalism. Market failures do happen but the government’s attempt to fix them are usually worse.

    Monopolies are usually due to government regulation in the first place.

    Or they use the example of unethical business leaders screwing their customers and/or the public. Putting aside the competition counter argument, using such an argument to refute capitalism is ridiculous – it’s like saying that because a few people in society behave badly, no-one should be free.

  6. Even just the word “capitalism” has taken on a negative connotation in Australia. I heard someone in the media criticising Sol for having a highly “capitalist style which Australians aren’t used to” after he left.

  7. Wow – times are weird when an academic from a communist country is criticising an Australian Prime Minister for having socialist economic policies… and we’re listening to him.

    Or is it just an academic thing – like the Marxist professors here, they adopt the economic theory the exact opposite of the one prevailing in the country?

    (yes I know China is more capilalist than communist these days, but it’s all an intersing inversion)

  8. yes I know China is more capilalist than communist these days, but it’s all an intersing inversion

    Corporate socialists…

  9. Incidentally, the China article was mentioned over at Catallaxy

    I too, found it amazing that China was setting Rudd straight on the issue. Though, re-posting Terje’s comment from that thread:

    Karl Marx was a classical economist and quite arguably a supply side economist rather than a demand side one. Someone concerned with production and it’s means not a demand fiddler. So it does not shock me to see those from formerly marxist economies having little time for demand side Keynesian thinking. The key failing of marxism is that it misunderstands risk and the price mechanism. The key failing of keynesianism is that it claims to overturn Says law.

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