No, it is not that they blame capitalism. Many of the protesters claim that capitalism is the culprit behind the economic crisis. Although this is a popular notion nowadays, it could not be further from the truth. For capitalism to be the cause, we would need to have capitalism first. We do not. Proper capitalism can only exist under laissez-faire government that would not tax the hell out of everybody, would not try to regulate every move we make, would not systemically centralize power, would not force anybody to get insurance for anything, and most of all, would not use the taxpayer’s money to rescue any company from bankruptcy. Anybody who claims that capitalism is to blame, does not know what capitalism is.
It’s also not Occupy’s call for more legislation. What we need is less legislation. Both in the U.S.A. and Europe the markets are already structurally hindered by an overload of - all too often conflicting - laws, rules, and regulations. More regulations, more government appointed ‘authorities’, and more committees overseeing these authorities will not solve anything. Has it ever in the past? No. Not ever. All it will do is create more bureaucracy.
And it is certainly not that they blame the economy. Believe it or not, but some of the Occupy interviewees stated that they were protesting ‘against the economy’. Do not laugh, for there are many among us who consistently confuse cause and effect. Like those who believe our political leaders when they claim to bail out the bankers, or the Greeks, or whoever is next, in order to ‘save the economy’. What they really are trying to save is the status quo, their relations, and their power.
But Occupy is right on the money about one thing. Corporatism. The political power of Big Pharma, Big Finance, Big Defense, and Big Telecom is gigantic. The markets are rigged in favor of the big corporations. Small players stand no chance, as they are lobbied out and regulated to death. Consequently, we have government induced oligopolies in industries such as health care, energy, and defense. True competition is thwarted. Consumer choice is suppressed. This is hugely hurting the economy.
Yet, what Occupy does not say, and probably does not know, is that corporatism is sponsored by Big Government. Who is responsible for the overflow of nitty gritty laws and regulations? Big Government. Who bailed out the banks? Their comrades in Big Government. Who bailed out GM? You guessed it, Big Government. Corporatism festers in the fertile bureaucratic wastelands of overbearing and over-regulating governments.
Fortunately, there is an effective antidote. Small government. So here is what Occupy should demand: Do not regulate the markets. Do not bail out corporations. Restore a truly free market economy. Shift the power balance back to the individual.
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