Interventionism

Nothing is easier than to think of things that would require the performance of virtually unlimited labor in order to accomplish virtually zero result. Such is the nature of all job-creation programs.

The idea that experts can do a better job of directing the use of resources, including gasoline, than can markets and market prices derives from the faulty assumption that experts know more than the whole of society.

A drastic turn to responsible economics is the only legitimate way to escape the deep rut Ireland finds itself in.

We are also constantly told — this time by Chicago economists, not Keynesians — that "we learned in the Depression" that the Fed needs to rapidly expand the monetary base to avert disaster. Oops, turns out that's bogus too.

Seeking to provide the intelligent layman with sufficient knowledge of sound economic theory to enable him to understand what must be done to overcome the present financial crisis and return to the path of economic progress and prosperity.

Modern macroeconomists failed to forewarn against the dangers of the recklessly inflationary monetary policy pursued by the Fed in the first half of this decade. They now are at a complete loss for a coherent explanation of its consequences in the deepening financial crisis and recession that afflicts the global economy.

Austrian economists like Ludwig von Mises and F.A. Hayek opposed government intervention in the macroeconomy because that intervention leads to distorted relative prices and malinvestment.

Carabini admits in the first chapter that in his opinion people are in general attracted to one of two opposing camps — those inclined to liberty and those inclined to mastery — and it is rare that exposure to additional evidence and facts sways anyone to switch camps.

The bonds will be backed by the usual way that the government gets money, which is to tax it or inflate it away.

Taxes are the price we pay for civilization.