Interventionism

If anyone is to take the blame for the current mess in which European countries find themselves, it should not be the bearers of bad news but those who steered the affected economies in the unsustainable direction.

"Do you think Alan might basically be a social climber?"—Ayn Rand

A system of private-property rights over all else would be a better solution.

"If this mania increases we shall slide into a social order under which everyone has one hand in the pocket of another."

The system of mercantilism needed no high-flown “theory” to get launched.

"Mercantilist 'theory' was a set of rationales designed to uphold or expand particular vested economic interests."

"Fulfilling the doctrine of the 'invisible hand,' the speculator, by his profit-seeking activity, causes more food to be stored during years of plenty than otherwise would have been the case, thereby lessening the effects of the lean years to come."

"Instead of spending time on adapting their product to the desires of consumers, homebuilders are busy adapting their homes to the code. Innovation is the victim."

There are instances in which the methods of genuine credit expansion are used for an utterly different purpose: to allow the government to take adv

"Whenever the central bank inflated itself into financial trouble, the government stood ready to allow it to suspend specie payments."