The Phaserl


Interventionism and the Decay of the Market Order

by Pater Tenebrarum,

The Interventionist State

Our age is in many ways remarkable. The average citizen can no longer really tell whether he is getting richer or poorer. In many areas of life, material wealth seems to be on a downward trajectory, as the inflationism of the past several decades has lowered the purchasing power of the incomes of the majority of the population. The common man is faced with soaring costs for education, health care (in the form of sharply rising insurance premiums), shelter (both home prices and rents are – with hiccups due to the bubble that burst in 2008 – inexorably rising), food and energy (the two famous ‘non-components’ of the official inflation measures) to name but a few. The rise in the cost of these necessities of life has vastly outpaced the rise in the real incomes of the middle and lower classes.

The policy of continual money supply inflation meanwhile has redistributed wealth from the poor and the middle class to those who are already wealthy: the richest 10 or 20% of the population, who are the main owners of assets such as real estate, stocks, art works, collectibles, and so forth. The everyday items listed above may well eat up 70 to 90% of the income of a middle or lower class wage earner, but they represent a tiny proportion of the income of someone who is rich. What the rich gain in terms of soaring asset values far outpaces what they lose in purchasing power.

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