Now put these two together: the left’s imperative to think of itself as a tradition of free-thinkers opposed to religious dogma, and their need for a scientific theory that validates their prejudice against capitalism—and you get the impetus for the whole mentality of what the blogger Ace of Spades calls the “I Love Science Sexually” crowd a play on the name of a popular Facebook page. And you can also understand their adulation of popularizers like Neil deGrasse Tyson who repeat this conventional wisdom back to them and give it the official imprimatur of science. Once the narrative is established, it becomes a bandwagon and others jump onto it because being “pro-science” sounds like and is a good thing, and because they don’t know enough to question the story they’re being told.
The Scottish people are being invited to decide whether their cradle-to-grave welfare state will be more flush as a semi-devolved entity dependent on subventions from Westminster or as a reborn Kingdom of Scotland dependent on subventions from the European Union. In such a political culture, there are no takers for “libertarianism”.
Andrew Carnegie, for instance, almost single-handedly reduced the price of steel rails from $160 per ton in 1875 to $17 per ton nearly a quarter century later. John D. Rockefeller pushed the price of refined petroleum down from more than 30¢ per gallon to 5.9¢ in 1897. Cornelius Vanderbilt, operating earlier in the century, reduced fares on steamboat transit by 90, 95, and even 100 percent. On trips for which a fare was not charged, Vanderbilt earned his money by selling concessions on board.
“On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur.”