Octavio Paz, defined government as "the philanthropic ogre," a creature that seemingly wishes to help the unfortunate, but at the same time devours more and more of the nation’s prosperity.
With printing of the Continental notes in 1775, Webster feared people would think you could finance the Revolutionary War by printing paper money. We should have listened!
Lowering quality and destroying health care choices might reduce some "administrative costs," but the real cost to the public of a government healthcare is system is much higher than is admitted.
Schumpeter's review, now available in English, emphasizes that Fetter's Principles is more than merely a textbook, and highlights the close connection between Fetter’s theory and the economics of the Austrian school, especially his classification of entrepreneurial activity.
