Monday, January 16, 2017

Complete and utter rubbish from Real Clear Markets on "free market" Martin Luther King Jr. who said "capitalism has outlived its usefulness"

Here in "Martin Luther King's Free-Market Legacy":

Martin Luther King proclaimed that he had a dream that “…my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character.”  His dream was far more powerful than it is given credit for.  It is a general call for freedom and free-market prosperity.

The real Martin Luther King Jr. was a self-confessed socialist as early as July 1952:

By the way (to turn to something more intellectual) I have just completed Bellamy’s Looking Backward. It was both stimulating and fascinating. There can be no doubt about it. Bellamy had the insight of a social prophet as well as the fact finding mind of the social scientist. I welcomed the book because much of its content is in line with my basic ideas. I imagine you already know that I am much more socialistic in my economic theory than capitalistic. And yet I am not so opposed to capitalism that I have failed to see its relative merits. It started out with a noble and high motive, viz, to block the trade monopolies of nobles, but like most human system it fail victim to the very thing it was revolting against. So today capitalism has outlived its usefulness. It has brought about a system that takes necessities from the masses to give luxuries to the classes. So I think Bellamy is right in seeing the gradual decline of capitalism.