Redistribution is not ethical; it’s theft and destruction. It is simply a means to satisfy the envy of some who seek to harm those who have obtained greater wealth through the satisfaction of the wants of consumers.
For centuries, entrepreneurial talents in China were diverted to military wars, political struggles, and government services. But now things are changing.
Conservatives appear to be increasingly in favor of using the power of the state to force their agenda. But what happens when the state they favor is turned against them?
The fact that politicians, central bankers, and “too big to fail” bankers all oppose a gold standard is a tacit admission that hard money would serve as an effective constraint on their activities.
There is no other means to attain full employment, rising real wage rates and a high standard of living for the common man than private initiative and free enterprise.
After quoting H.L. Mencken’s famous quip, “Nobody ever went broke underestimating the intelligence of the American people,” Andrews wonders, “I don’t know if old H.L. was a bookmaker, but he would have been a great one if he had been.”
