The New Deal is the American manifestation of the worldwide trend which produced fascism, communism and British socialism. It results from the desire of man to escape individual responsibility, to lean upon the all-powerful state and to trade his freedom for the politician's promise of security.
Dionysius's modern counterpart not only has ministers to advise him but also professors of economics to explain to the public how the abundance in their pantries is improved by inflation.
I see a pattern there — a pattern that can mean slavery for free men everywhere if it is not broken.
Democracy may be a self-limiting disease, as civilization itself seems to be. There are thumping paradoxes in its philosophy, and some of them have a suicidal smack.
If an omnipotent authority has the power to assign to every individual the tasks he has to perform, nothing that can be called freedom and autonomy is left to him. He has only the choice between strict obedience and death by starvation.
Posner is — to the best of my knowledge — a magnanimous person with a genuine concern for the lives of millions of Americans, but his book, if heeded, will only exacerbate current conditions.
To avoid runaway inflation we must have the resolve and the will to cease the inflationary expansion of credit, and to force the Federal Reserve System to stop purchasing assets, and thereby to stop its continued generation of chronic, accelerating inflation.
We are going to have world central planning in order to control the climate and protect the holy earth from the effects of industrialization. Oh, and tax us good and hard in the process.
The gold standard protects the monetary system from the influence of governments as the quantity of gold in existence is utterly independent of the wishes and manipulations of government officials and politicians, parties and pressure groups.
The entire Keynesian edifice rests on a central paradox: impeding the central mechanism of the free market will restore prosperity.
