Listening to Klaus Bernpaintner explain Austrian economics - and why the dominant Keynesian view of central banks is flat-out wrong and makes people poorer - finally put words to what I've long felt but couldn't articulate. I've always bristled at talk of "the market" as some mystical, independent entity. Bernpaintner nailed it: quote "Marknaden finns inte. Det är bra eller dåliga affärer." (The market doesn't exist. There are only good deals or bad deals.) unquote.
Good deals create real value through voluntary exchange, honest pricing, and genuine entrepreneurship. Bad deals waste resources, often because prices are distorted by artificial credit, subsidies, regulations, or political favoritism. When politicians and central banks meddle - handing out grants, propping up failing ventures, or manipulating interest rates - they don't "help the economy." They force-feed bad deals, crowd out good ones, and set the stage for malinvestment and inevitable busts.
If we stopped the subsidies, bailouts, and monetary tinkering, truly viable businesses and innovations would thrive on their own merits. Anything that can't stand without crutches from the state probably shouldn't exist in the first place.
Turns out I'm more Austrian than I ever realized...
AI generated image with Grok
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