The liberal philosophy as its name suggests runs towards Ponzi schemes. Ponzi schemes have as inherent components:
- Promising to create from nothing.
- A smaller number of followers at the start.
- A growth in followers that can be separated into generations or cohorts.
- Actual payoffs to some earlier generations.
- The inability to payoff later cohorts or generations.
- Fraud to start the Ponzi scheme.
- Coercion to maintain and extend the Ponzi scheme once its exposed.
- Eventual collapse of the extended Ponzi scheme.
Coercion in a private Ponzi scheme might be forcing some members to cough up more money to pay off earlier cohorts or generations.
Social security, welfare, government health care, ER mandates, schooling the third world, asylum, H-1B type immigration, family reunification immigration are all examples, at least in part of Ponzi schemes.
Lawrence Auster is an advocate of Traditionalism as a form of Conservatism. Traditionalism and Liberalism are not the same. One aspect in which they are presumably different is that Traditionalism doesn’t run to Ponzi schemes.
Another point of view is that Traditionalism is not based on time inconsistency, fraud, arbitrage, or magic of one form of another. Time inconsistency in a narrow sense is where preferences change or a promise made at one time won’t be performed at a later time.
In the context of behavioral economics, time inconsistency is related to how much each different self
Time inconsistency involves the change of the self as the Wiki article states. Immigration, changing generations, etc. are ways that the self changes. Liberalism makes promises on behalf of a society that is changing. The future society in one way or another defaults on those promises.
Liberalism is based on sets of promise that won’t be or can’t be performed over time. The response of the government at some point is a combination of fraud and coercion. This is followed by default or collapse.
Traditionalism is about maintaining the continuity of the self of society. This is necessary for society to make promises that it will actually deliver on if it is in a position to deliver on them. Society still has to limit itself to promises within its means.
Liberalism by immigration creates both time inconsistency of the self and a Ponzi scheme that can’t be delivered on. Immigration changes the self, and eventually changes it completely. Third World immigration is changing a society based on contract performance to one where contracts hardly exist.
The first world has developed faith in long term contracts and commitments. These are not part of third world reality, nor have they ever been. Immigration is the first world expecting to change itself into the third world and then expecting its new third world self to deliver on its old first world promises from the past. This is not going to happen.
Performance of long term contracts among strangers is not a common characteristic of human societies everywhere and always. It is instead, a rare situation. It is a first world concept and not a third world one. Large public corporations with many shareholders is not a third world creation is still not the norm in many parts of the third world. Even in some areas these companies are still beset with fraud problems.
Liberalism has joined together Ponzi schemes, that can never be performed, with time-inconsistency, the change of the self, that results in even promises that can be performed being defaulted on. Moreover, the immigration is from the third world where long term promises to strangers are not performed on and aren’t part of the culture.
Western society evolved or developed the public corporation with shares held by strangers and diluted. It has been difficult even here to maintain it. Western society has, however, in liberalism, made long term promises that it can’t perform. It has then turned to third world immigration to cure this, in part. But this has only made things worse.
Third world immigrants immediately impose high costs in the form of schools, welfare, ER, crowding, time mandates such as commuting, and the like. Third world immigrants are not loyal to first world people and are here to get what they can while the getting is good. They are not here to deliver on long term promises made by liberals.
This is in part a continuation of the discussion of Lawrence Auster’s traditionalism discussion by focusing on liberalism and its problems. Vanishing American also has some comments and links on this topic.
Neocons: Traditionalism for me, Globalism for you