An Americanist economic perspective: Art Thompson, the CEO of The John Birch Society, offers a uniquely Americanist perspective on how to resolve our current economic crisis.(Interview)

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Art Thompson, CEO of The John Birch Society, parent company to THE NEW AMERICAN, offers his advice on what steps to take to solve the economic crisis.

THE NEW AMERICAN: With all the calls for bailouts, first for the financial sector and now for the auto industry, Americans are confused. We've been hearing that these bailouts are necessary to save the economy, but everyone understands that they will impose an enormous tax burden on future generations. Our political leaders want us to believe that there are no alternatives, that bailouts are a lesser evil to prevent greater ones down the road. How do you answer that?

Art Thompson: Recently, I saw a pundit on a major television network discussing the 2008 panic and advocating as a solution "a little socialism now to prevent a lot of socialism later." Those were his exact words. This particular commentator was more candid than most. The words used most often by the media in their "solutions" are "more regulation," "better management," and/or "more controls" by government. All of these amount to "a little socialism." But "a little socialism" is just another term for fascism.

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Whether it is fascism or full-blown socialism, the stated objective is to control the economy. But when the government attempts to control the economy, for whatever reason, what necessarily end up being controlled are the real actions of the honest, hardworking people whose economic decisions taken in sum comprise the economy as a whole.

But even the most thoroughgoing despotism lacks the analytical and theoretical tools necessary to direct the economic lives of all the people who make up the larger economy of a nation. The more tightly a government attempts to control economic behavior, the worse economic activity is hampered and distorted. This is particularly true in large, populous nations, which because of their size are more difficult to manipulate economically than small nations.