Jeremy Corbyn has suddenly taken over the British political scene and galvanised many to this support. Although it’s hard to disagree with all his stances, his socialistic economic policies will bring any libertarian close to a heart attack. What I want to say is that there is no need to actually worry. The Left Loony is good for Liberty!
How exactly you ask. Well as I have mentioned here, the status quo with regards to economic policy is interventionism. The situation is so dire that to say the people who believe in capitalism are in a minority is actually an understatement; it’s almost non-existent! If we want to wait around for people to change their minds it will take us generations, if that. What works much better is for people to observe the failures of interventionism themselves. Remember the notion of a fully centrally planned economy? People, laymen and scholars alike, actually took it seriously. After experiencing the system in reality and when its failures finally rose to the surface, the whole notion sank in the sea of does-not-work ideas. Today, it’s near impossible to bring about that type of economic system again because most people know that it just doesn’t work.
Similarly with the interventionist state it’s realistic to think that it will lead to its own demise rather than people coming to realisation through reason that it does not work. As such, why not have the demise sooner than later?
Most people view Labour on the left and Conservatives on the right. Labour as Socialists and Conservatives as Capitalists. Now in reality both are on the left and both are Socialists, just to different degrees. Tory policies are too little too late. In the grand scheme of things, Britain is still spending too much and has a tremendous amount of ever increasing debt. Given this context, if Conservatives win at the next General Election and UK does go into a recession, people will see it as a failure of Capitalist/’Right Wing’ policies. On the other hand, if Corbyn comes to power and when his socialistic policies lead to total economic disaster, we will be one big step closer to people realising the shortcomings of socialism. Not only will he bring the inevitable closer but he’ll also take the blame for it. What more could we as Libertarians want from a Prime Minister?
With this idea in mind, I not only sleep well at night with the idea of Corbyn coming to power but I actually dream of it! Hope this helps some other British Libertarians out there who are suffering from Lefty Loony Induced Insomnia.