The Five Institutions of the Market Economy

Let us see what the basic institutions of the market economy are. We may subdivide them for convenience of discussion into (1) private property, (2) free markets, (3) competition, (4) division and combination of labor, and (5) social cooperation. As we shall see, these are not separate institutions. They are mutually dependent: each implies the other, and makes it possible.

Seize or Build the Means of Production?

You often hear left anarchists (anarcho-communists, anarcho-syndicalists, etc.) promoting the idea of “seizing the means of production” and smashing corporate hierarchy, and whatnot (regular communists and syndicalists, too, of course). But aside from corporate hierarchy that persists as the result of political privilege, why should anyone seize the means of production rather than building the means of production for themselves?

Who Benefits From Upper Class Wealth?

Many a social democrat and left anarchist decry the existence of wealth inequality, considering it evidence that a crime somewhere, some time has been committed, and that justice must be made through violent confiscatory and re-distributive government programs. To them such is perfectly just because it is the righting of a wrong. The state is a tool that may used in this way, just as for small government libertarians it may be used in self-defense. This is a type of self-defense by the have-nots against the haves. It make me wonder, however, just how beneficial wealth is to the haves, and even to the have-notes? Let us count the ways.

Why Would Anyone Want a President?

Apart from employees of the executive branch, or active-duty members of the military who have been called into service by Congress, no American really has a “president.” The office was intended to be peripheral to the daily concerns of Americans, rather than the central focus of their existence. What a wonderful thing it would be if Americans of all persuasions adopted the motto “Not My President” – and then learned to regard the state itself with the proper mixture of hostility and contempt.

You’re Afraid of Power, Not Trump

You aren’t scared of Trump the person. Trump has been on this earth for 70 years and other than a general distaste for him, no one ever feared for their life because Trump walked the earth. He could do what he wanted because he didn’t affect your life. He had no control over you. What you fear is the power he now wields.