Henry David Thoreau's views on limited government and capitalism

Freedom, Politics, Economics

Politics and Economics from the eyes of Henry David Thoreau

To begin, Henry David Thoreau was very unique during his era, primarily due to his forward thinking style and rationality. In regards to economics, Thoreau would not favor the expanded powers of government currently prevailing in America. In fact, Thoreau often advocated for limited government with powers only responsible for the protection of society from foreign competitors. Thoreau is often quoted for saying, "I ask for, not at once no government, but at once a better government." In this quote he often refers to a limited government as best for the constituents of the country as a whole. As such, Thoreau would not be supportive of many of the progressive laws expanding government control and influence. Aspects such as universal healthcare and disaster relief funding, Thoreau would be against on a federal level. However, if individuals as a collective unit want to support healthcare, they are free to do so under their own means. As such, Thoreau is often viewed as anarchist for his beliefs in a very limited function of government. Further compounding this issue of limited government is Thoreau's notion on taxes. During his youth, he had been a stark advocate against taxes. In fact, Thoreau on July 25, 1846, was arrested for not paying a poll tax. He has been an advocate for very low taxes. As such, he would also disagree with many of the economic and political policies currently in place in America (Howarth, 1982).

Aspects such as quantitative easing would be against Thoreau's government responsibilities. By printing large sums of money, the government is attempting to lift asset prices throughout America, created a "wealth effect." As assets such as stock, real estate, and home values rise, Americans will feel more confident about their financial future. They therefore will spend more, and encourage economic growth. This notion however, is in contrast to Thoreau's beliefs. For instance, programs such as QE, take government powers too far. In addition, Thoreau would exclaim that inflating asset prices is politically motivated and is not in the overall best interest of society. He would rather allow individuals to make their own decisions regarding their finances. Furthermore, Thoreau would be an advocate for women's rights. During his era Thoreau was very active within the civil rights movement. He assisted in the underground railroad, opposed the fugitive slave law, and joined the abolitionist movement. As such, I believe he would be equally vehement about the roles of women in society today. Aspects such as wage disparity and inequality would all be attacked politically by Thoreau (Richardson, 1986).

Thoreau in regards to economics is an advocate for capitalism. Thoreau in a writing once remarked, "I am refreshed and expanded when the freight train rattles past me, and I smell the stores which go dispensing their odors all the way from Long Wharf to Lake Champlain, reminding me of foreign parts, of coral reefs, and Indian oceans, and tropical climes, and the extent of the globe." Thoreau believes in the merits of capitalism and would be please in the transition America has made in regards to innovation. In fact the Dow Jones Industrial average in 1900 was roughly 66 points. In the year 2000, the Dow was at 11,400 points. That meteoric rise is due primarily to capitalism. Thoreau realized its merits and believed in its ability to improve the overall quality of life for society overall (Petrulionis, 2012).

In conclusion it seems that Thoreau's economic beliefs are at odds with one another. He is an advocate for capitalism and its merits. This is indicated frequently in his writings. However, he does not believe in the role of government and taxes in regards to maintaining the transparency of the markets. Taxes are needed to maintain an economic system much in the same manner a home owner pays association fees. The government is needed to maintain the competitive forces of industry and innovation. Taxes are therefore needed to pay for personnel, legal expenses, overhead, and much more. Politically, Thoreau believed in equality as indicated by his heavy participation in the civil rights movement. He would be disappointed in the progress society has made up to this point.

Politics and Economics from the eyes of Ernest Hemingway

Ernest Hemingway is very unique relative to the other two authors mentioned above. In many instances Emerson and Thoreau have similar thought processes and beliefs. Hemingway however, is a stark contrast to both men. I believe this is due primarily to the eras in which they were born. Thoreau and Emerson were born in the mid 19th century. As such their thought processes and behaviors were heavily influences by the economic and political constraints of their time. Aspects such as slavery, government, and religion were paramount during those periods. Emerson however, was born and lived during a period of much more prosperity. The early 20th century saw large improvement to transportation, entertainment, and leisure. Television, radio, automobiles, and aircraft were all invented during Hemingway's era. These items during Emerson and Thoreau's era were mere dreams. This, I believe contributes heavily to the divergent opinions of the three men. For instance, both Thoreau and Emerson grew up in very religious homes. This was customary during their eras. Emerson himself was a pastor and a devout man of God. Hemingway however was believed to be atheist as he once wrote, All thinking men are atheists." Hemingway, on record, was an opponent of inflation and war. He believed the destruction of the nation's currency created permanent ruin. As such, he would disagree with many of the inflation producing measures in society today. Aspects such as quantitative easing would infuriate Hemingway. I believe Hemingway would also approve of a new gold standard which limits the amount of money the government can print. Hemingway would also be disappointed in regards to being a truly free America. He, much like the other two authors, would believe in a laizze-faire government with little to no intervention (Benson, 1989). Politically, Hemingway is against war. He would probably oppose any military strike arising in Syria or the middle east. The war in Iraq and other military conflicts irrespective of origin would be highly negative to Hemingway who views war as a path to ruin. Due primarily to the large amount of inflation producing measures in America, military involvement in the middle east, and high government controls, Hemingway would not approve of America today. Instead, I believe he would believe that Americans are less free than they were during his era.

References:

1) Benson, Jackson. (1989). "Ernest Hemingway: The Life as Fiction and the Fiction as Life." American Literature. Volume 61, issue 3. 354 -- 358

2) Bosco, Ronald a. And Joel Myerson (2003). Emerson in His Own Time. Iowa City: University of Iowa Press. ISBN 0-87745-842-1.

3) Howarth, William. The Book of Concord: Thoreau's Life as a Writer. Viking Press, 1982

4) Gura, Philip F (2007). American Transcendentalism: A History. New York: Hill and Wang. ISBN 978-0-8090-3477-2.

5) Petrulionis, Sandra Harbert, ed., Thoreau in His Own Time: A Biographical Chronicle of His Life, Drawn From Recollections, Interviews, and Memoirs by Family, Friends, and Associates. Iowa City: University of Iowa Press, 2012. ISBN 1-60938-087-8

6) Richardson, Robert D. Henry Thoreau: A Life of the Mind. University of California Press Berkeley and Los Angeles. 1986. ISBN 0-520-06346-5