Article by Colonel Nogov on Jan. 26,2015
If you haven’t read my post “law vs. Legislation“, please read that first. When I talk about laws, I’m not referring to the politician’s legislation. I’m referring to actual laws. Laws of science. Universal laws.
Laws are discovered, not made. Laws are discovered through observation over time. Observation can be strictly through the senses or through the use of scientific instruments.
When Sir Isaac Newton discovered gravity, he obviously didn’t create it. He didn’t state, ‘I have created this thing called gravity and it shall operate like this forever and all times.’ No, he was simply the first one to write down the observations of the laws of gravity. Would the laws of gravity existed without Sir Isaac Newton calculating them and writing them down? Certainly.
Laws exist. Man discovers them, he doesn’t create them. Sometimes it takes centuries even millennia to discover. The laws don’t change, only man’s understanding and calculations of them. For instance, when Newton published his laws of gravity in 1687, he modified Kepler’s third law of planetary motion. Did the law of planetary motion change? No. Only a miscalculation on Kepler’s part which Newton corrected.
Laws, unlike legislation, don’t require enforcement by government. They are self enforcing.
In economics there are laws just like the other sciences. In the coming weeks and months, I will be doing a series on economic laws. I believe this is important because the science of economics has been thoroughly muddled by the Keynesian “economists”. I write economists in quotes because they are not economists. The economics of John Maynard Keynes have been thoroughly discredited, yet you hear the nonsense in the mainstream media and government constantly. These people are not economists they are propagandists for the government. An economist doesn’t ignore the laws of economics discovered in previous eras. If he believed there to be an error in a previously determined law, he would make his correction and submit it to the scientific community for scrutiny, as in the Newton/Kepler example above.
These pseudo economists, the Keynesians, believe the laws of economics can be altered through government. They can’t. The laws always reassert themselves regardless of the government manipulation. Just like the laws of gravity cannot be altered by government decree, nor can the laws of economics.
I think people believe government can alter the laws of economics through legislation because the laws of economics is generally about the behavior of people. Through the use of incentives and violence (i.e. the carrot and the stick), some people’s behaviors can be manipulated. This is just a manipulation though. It does not alter the laws of economics. The laws will always reassert itself, sooner or later. Sometimes sooner and later both as we’ll discover.
The coming series on economic laws will explain the laws, and will also explain the effects of government manipulation on the laws, and how they reassert themselves.