Paul Mason: The Latest Pied Piper of "the Death of Capitalism" • Gary North

originally posted by: daskakik

originally posted by: greencmp
1776 roundabouts.

Only if you twist those words like pretzels.

Etymology of laissez-faire

According to historical legend, the phrase stems from a meeting in about 1681 between the powerful French finance minister Jean-Baptiste Colbert and a group of French businessmen led by a certain M. Le Gendre. When the eager mercantilist minister asked how the French state could be of service to the merchants and help promote their commerce, Le Gendre replied simply "Laissez-nous faire" ("Let us be," literally "Let us do").

a reply to: sensibleSenseless

Sixteenth amendment - February 3, 1913

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

I could go on...

a reply to: greencmp

I know what laissez-faire means and that is not what existed in the US circa 1776.

I could go on...

Go on with what? What you posted has nothing to do with the state of affairs around 1776.

a reply to: daskakik

Are you from an alternate universe?

originally posted by: greencmp
Are you from an alternate universe?

Maybe? One where we don't use rose colored glasses to read history.

The 16th amendment has nothing to do with the economy of 1776 being an example of laissez-faire.

The fact that the Bank of North America was chartered in 1781 is a realistic indicator of what was going on back then.

a reply to: daskakik

You're not reading my posts.

a reply to: greencmp

Of course I am. You are trying to say that when the US first stated out it was free and that is why it prospered.

The problem is that you specifically said it was because of laissez-faire and limited government although neither of these things were true.

It might be true that things were less regulated than today but it was nowhere near laissez-faire and government was not as limited as you propose.