Econ Circus will create an intellectual revolution that will bring Austrian economics into the mainstream.
There are three ‘tents’ to the Circus:
Liberalism – The belief that the government should only protect the life, liberty and property of its people. This is the belief in ‘equality,’ because it means that the government cannot grant special favour to any person(s), group or corporation, therefore everyone is equal under the Rule of Law. The government must not be allowed to pick economic winners and losers or have a central plan for the people because this would be considered statism.
Capitalism – This is the natural extension of liberalism, whereby the means of production are owned and controlled by private individuals. Any form of interventionism by the government, such as price controls, tariffs, bailouts, subsidies or other ‘protections,’ as well as central banking interest rate and money supply manipulation violate market principles and are considered socialism.
Austrian Economics – By understanding both Liberalism and Capitalism, the conclusion can only be Austrian economics, because it is the only school that recognizes both. Therefore, we can call it the ‘economics of the free market,’ with the belief that human action is purposeful action and that individuals should be able to engage in voluntary actions rather than be coerced by economists, a great dictator or a government bureaucracy.
In order to stat an intellectual revolution, the ideas of freedom and liberty must spread to the masses. Through the website, related social media and community outreach, an understanding of markets and a desire for honest economic discussion will help prepare the general population for societal change.
The next step will to have Austrian economics formally taught in post-secondary institutions in Canada and to increase its teaching in Colleges/Universities across America. It is imperative that doctorate degrees will be offered so that widespread recognition and accreditation can exist in order to create a class of influences that can then teach and advocate market principles.
Eventually a critical mass will be reached where Austrian economics will enter into mainstream economics and in time it should be the only economic school that exists. The website’s founder and owner, Robert Aro, CPA, CA will work to build ‘The Museum of Socialism,’ (see donate page) a non-profit organization that will detail the history of socialism and spread the truth. This will serve as the centre for economic history, knowledge and the preservation of the free market.