Interventionism

Our analysis holds that the key reason for financial instability is not the repeal of the Glass-Steagall Act as such but the existence of the central bank.

In order for anyone to make ethical judgments, he must know the consequences of his various actions. In questions of union actions displacement or unemployment for oneself or others will be considered unfortunate by most people.

What we need is something else: the establishment of a different kind of monetary system, one that uses competitive markets in the area of money and banking, and that eliminates the currency monopoly of the state.

The only cartels that have lasted have been government cartels. There is no essential difference between a cartel and an ordinary corporation or partnership. Not even the De Beers cartel is all powerful.

Thou shalt not sell a certain product or service below a certain price, e.g. wheat, cotton, corn, cheese, sugar. This will result in an artificial unsold permanent surplus, as it does in the American farm situation.

The peanut butter crunch was in 1980. Crop acreage and production was cut down by 45% by government price support, import quotas, and cartelizing of the industry. The price of peanuts more than tripled.

The disappearance of oil has been forecast every decade. Prices were overlooked. When the price is high it is more profitable to look for oil. Total reserves on the ground are higher than they were in 1890.

"Any individual who would live beyond his means, voting himself into a home that he cannot afford, is not a desirable neighbor for those who adhere to the concepts of private ownership and control of property."

"The future of the euro is dark because there are such strong incentives for reckless fiscal behavior, not only for Greece but also for other countries."

"The fragment on classes was actually written prior to the initial publication of Volume 1 of Capital in 1867. Marx died in 1883. That he never returned to the fragment strongly suggests that he had no satisfactory theory of class."