https://www.youtube.com/watch?v=fF40oMpW2lE

Text version:

https://mises.org/online-book/liberty-and-property/liberty-property

Any group claiming to speak for the 'masses'/'the common man', and against cronyism, ought to be radical proponents of free markets, laissez-faire, tax scrapping, deregulation and total privatization. Especially those who call themselves 'liberators of the people'. The government is the ultimate cause of enslavement, cronyism and inequality.

They ought to be advocating for introducing market competition, private property and abolishing state-granted monopoly privileges in every walk of life. This was the original left wing position, because no single entity or human being can sustain their position on top in a free market without providing useful services that the masses require and demand. They can only do so with the help of the government.

Quote from the lecture:

"Under capitalism, private property of the factors of production is a social function. The entrepreneurs, capitalists, and land owners are mandataries, as it were, of the consumers, and their mandate is revocable. In order to be rich, it is not sufficient to have once saved and accumulated capital. It is necessary to invest it again and again in those lines in which it best fills the wants of the consumers. The market process is a daily repeated plebiscite, and it ejects inevitably from the ranks of profitable people those who do not employ their property according to the orders given by the public."