The deficit-hawk politicians are right when they say the government should be sharing in the belt-tightening along with everyone else. Slashing spending at the federal level would return much-needed resources to the private sector, where they would do the most good.
The increasing concentration on short-run effects is not only as a serious and dangerous intellectual error; it is a betrayal of the main duty of the economist and a grave menace to our civilization.
Here we have clearly the interest of labor put before the interest of consumers.
The Mises Circle in Indianapolis. Sponsored by Weaver Popcorn Company. Recorded 14 May 2011.
The Mises Circle in Indianapolis. Sponsored by Weaver Popcorn Company. Recorded 14 May 2011.
The Mises Circle in Indianapolis. Sponsored by Weaver Popcorn Company. Recorded 14 May 2011.
People must not be allowed to get prescription medications without doctor approval — or else an entire fake industry could collapse. So the pharms, the docs, and all those who benefit from the current system banded together and instituted a medieval guild system for the digital age.
Many, perhaps most, people have a deep-rooted predisposition to keep things the way they are. This innate resistance to change finds expression in the political philosophy called conservatism.
