This is an interesting idea I considered. Note that the views expressed aren’t mine, but I think they are worth voicing. I will try to remain as neutral as possible.
Many libertarians seem to be under the impression that action on our part is necessary so as to curb the growing influence of statism among people. Every intervention by the state into the economy is seen as another defeat, every riot of socialist parasites is seen as a threat to liberty, etc. People fear big bankers, backed by big government, will form a new world order of some kind and use the collapse of the US dollar as a chance to create a world currency.
However, is there any reason for us to get involved? The system, as it currently is, is completely dysfunctional. It relies on fiat and it all comes crashing down sooner or later (depending on how extreme the state’s power is). Okay, so the already bad economy is intervened into by a government, delaying and worsening the eventual reckoning. Big government is on the rise! But what difference does in make in the long run (where Austrians always ultimately benefit)? They can’t maintain the facade forever, and each time they intervene to “save” things they set themselves up for a worse scenario down the road. Eventually, they will hit a roadblock where manipulation simply doesn’t work anymore, or otherwise they find themselves stuck between two options that screw them over (it might have actually reached that point now: the US Federal Reserve is basically keeping the US economy, which hasn’t properly flushed the malinvestment out the system, on life support with Quantitative Easing and other tricks. But the US dollar is rapidly losing value. If they keep things going, they will lose complete control of the situation as the dollar becomes worthless and hyperinflation kicks in, while if they raise rates to stave off inflation their “recovery” will collapse utterly. They can’t even get foreign countries to buy their bonds and delay it, since Europe is in a crisis of its own, Japan is in terrible shape due to natural disaster, and China’s housing bubble would appear to have just popped). In other words, they reach a point where no amount of lying, refusals to make cuts, and yelling about how those in favour of allowing the market to take its course “hate the poor” will save them.
So in some places (case in point, Greece) the “opposition” to the powers that be comes from angry socialists who want their welfare money and will chuck Molotov cocktails at cops to get it. Maybe they will even eventually go for open revolution and try to establish a communist nation. Again, so what? First of all, they are destablizing the corporatist establishment, which is good. Second, assuming they actually succeed, they will only speed up the eventual economic collapse from which recovery will be nigh impossible. We already know Communism, or even Socialism, are completely impossible to maintain. The Soviet Union was probably the best chance Communism had to prove itself; they had enough natural resources to make autarky actually feasible, a big enough population and industrial base to be able to manage impressive things with production, and lots of subsidies coming in from the US (Especially food) from WW2 onwards. This isn’t mentioning all of the other Communist nations they took after 1945 for them to loot. But ultimately, they collapsed altogether. Had a decent free market economy been in place without the rampant corruption that “New Russia” faces, they could have easily surpassed the US economy. Do you seriously think a tiny country like Greece could survive Communism for more than a decade or so without a giant nation like the USSR to prop them up? Especially considering most countries nearing that point are mismanaged to the point that the industrial base they could take would be miniscule and leave them worse than with the crooked, insolvent Eurozone countries anway.
Finally, occasionally (from the more conspiracy-theorist minded) there is fear of big banks and governments making a move for a world currency, a new world order, etc. I think you already know what I have to ask about this; so what? The Euro has shown that a large scale currency used over a large area over varying economic systems and with varying strengths will last a very short time. The Euro has only been around for ten years and it is already in great danger. A world currency would be lucky to last a single year. Plus, in the current economic climate, it just wouldn’t start with any strength.
On another note regarding conspiracy theories, why do so many make urgent noises about this sort of thing? It is always “The Jews did 9/11” this and “the economy is being manipulated by conspirators to take over the world” that. Has anyone ever considered that the big power players right now are completely incompetent? Sure, they have lots of money, but they can’t manage economies with any degree of effectiveness. They continually screw things up despite even overt attempts at intervention, they use every potential trick and still find themselves losing, etc. What is the end game for these “conspirators”? World domination over a world drained of economic value, with no ability to enforce their control? What can they hope to gain by delaying the inevitable? They have practically nothing to gain. Even assuming there IS a monolithic organization out controlling the world, there isn’t anything we need to do to stop it because it is collapsing from its own weight. We don’t need to give it a push, and we don’t need to worry about it. The NWO will defeat itself, and anything we do will be a waste of time and will make us look dumb to the general populace in the meantime.
Thoughts?