Transcript How the Political Elites Hijacked the Constitution.

How America’s Political Elites Hijacked
the Constitution
Took Away Our Freedoms and
What We Can Do to Restore the Republic
Dr. Murray Sabrin
Professor of Finance
Anisfield School of Business
Ramapo College of New Jersey
www.MurraySabrin.com
Bird’s eye view of the economy
Production of goods and services leads to
(based on savings and investment)…
Purchase of money, which leads to…
Sale of money for goods and services
(consumption)
Road to Serfdom
The Welfare State is merely a method for
transforming the market economy step by
step into socialism.
Ludwig von Mises
Trashing the Constitution
Everyone in government takes an oath to uphold the
Constitution. But few do so. Do the people we send to the
federal government recognize any limits today on Congress's
power to legislate? The answer is: Yes, their own perception
of whatever they can get away with.
Judge Andrew P. Napolitano
How the Constitution Was Hijacked: From
a Republic to a Welfare-Warfare State
The farther backward you look, the farther forward you can see.
Winston Churchill

JULY 4, 1776

1800-1860, The Great Conflict

1861-1865

FEBRUARY 1913 and DECEMBER 1913

APRIL 1917

OCTOBER 1929

APRIL 1933 and AUGUST 1935

DECEMBER 1941, JUNE 1950, SUMMER 1965

AUGUST 1971

Trashing the Constitution, Bipartisan Statism
Fiscal Imbalances
I place economy among the first and most important of republic virtues, and
public debt as the greatest of the dangers to be feared. Thomas Jefferson, 1816
No generation has a right to contract debts greater than can be paid off
during the course of its own existence.
George Washington, 1789
The Economic Trap We are Facing
Manipulating the Economy

Central bankers are actually central
planners…they pick an interest rate to within
two decimal places they guess is the right
one, and then they proceed to cram it down
the throat of the banking system.
William A. Fleckenstein
Manipulating Interest Rates
There has been no generation that has not grumbled about the expensive
times that it lives in. But the fact that everything is becoming dearer simply
means that the objective exchange value of money is falling.
Ludwig von Mises
The Dollar-Gold Link
Free Enterprise and Liberty
The market economy is the social system of the
division of labor under private ownership of the
means of production. Everybody acts on his own
behalf; but everybody’s actions aim at the
satisfaction of other people’s needs as well as at
the satisfaction of his own. Everybody in acting
serves his fellow citizens.
Ludwig von Mises
Replacing the Welfare State
Government has proved incompetent at solving
social problems. Virtually every success we have
scored has been achieved by nonprofits…We now
need to learn that ‘nonprofitization’ may for
modern societies be the way out of
mismanagement by welfare bureaucracies.
Peter Drucker
Recommended Readings

Economics in One Lesson,

The Law,

What Has Government Done to Our Money?
Henry Hazlitt
Frederic Bastiat
Murray Rothbard




The Anti-Capitalistic Mentality, Ludwig von Mises
The Income Tax: Root of All Evil, Frank Chodorov
Constitutional Chaos, Andrew P. Napolitano
The Real Lincoln, Thomas DiLorenzo
Restoring Liberty
Protecting Our Rights









Abolish the income tax
Phase out Social Security, Medicare and Medicaid
End the federal government role in education, housing, energy,
Make the dollar as good as gold once again
Abolish all unnecessary regulations
End nation building and undeclared wars
All legislation must be consistent with the Constitution
End direct election of U.S. Senators
Restore a culture of personal responsibility, financial
independence, individual liberty and limited government