God is a Capitalist

Showing posts with label Baltimore. Show all posts
Showing posts with label Baltimore. Show all posts

Tuesday, April 28, 2015

The Economics of Burning Baltimore

Baltimore is burning and the book most relevant to the tragedy, and to that of Ferguson, MO, Detroit, MI, and many other cities in the US is Friedrich Hayek’s Road to Serfdom.
 
The media will pimp the idea that racism caused the rioting, looting and burning, but racists live every city in the US that is not on fire. Baltimore and Ferguson have more in common with the Arab “Spring” and the frequent rioting in Paris and London than with the civil rights marches of the 1960s. Cairo and Tunis erupted a few years ago because they had armies of unemployed young people with no jobs, many of them with worthless university degrees.