Interventionism

Market prices turn incomprehensibly complex relationships into very simple ones.

Krugman. 2002. Calling for a housing bubble.

"All of this government intervention will only spawn new malinvestments and later depressions."

Unjust combatants who feared punishment at the end of the war might be more reluctant to surrender, preferring to continue to fight with a low probability of victory than to surrender with a high probability of being punished.

Libertarians have been critical of zoning laws, which restrict the ability of property owners to develop their property or use it for their desired purposes.

True prosperity did not return until "the federal government relinquished its stranglehold on the American economy."

The wealth that strip-club patrons and strip-club moguls thought they had to throw around was but an illusion, and the reality is sobering for the entertainers, cabbies, politicians, and others who have been riding the strip-club boom.

Bubble activities are not self-funded; they require money "out of thin air," which is employed to divert real savings to them from wealth generators.

"There is no incentive for bank depositors to go to the trouble of determining a bank's soundness if the government is going to guarantee deposits."

In addition to his merciless evisceration of the propaganda surrounding specific New Deal programs, Murphy assembles some suggestive evidence, in addition to the clear testimony of economic theory, regarding the destructive, growth-inhibiting nature of the New Deal in general.