Remove all government impediments to effective entrepreneurial planning: avoid protectionist measures internationally; allow prices and wages to adjust as needed to restore market equilibrium. Not only cut tax rates, as was done in the incomplete reforms of the 1980s and early in this century, but, per Rothbard, drastically reduce the government budget, both taxes and expenditures.
The problem is not really economic but political. And as long as "the leadership of the Party" and "Marxism, Leninism, Mao Ze-dong thought" remain enshrined in the preamble to the Chinese constitution, the solution is likely to remain as elusive as ever.
Suppose in 2007 you were handed a piece of paper and a pencil, and were asked, "Come up with a list of bullet points for how to generate severe stagflation in the years 2010 through 2019."
Wouldn't your list look pretty similar to what has already happened?
As I see it now, democracy is not to the advantage of the demos, it is to the advantage of the power elite.
The progressives demanded efficiency in government and spurned traditional American practices as obstacles on the path to needed reforms.
Partisans on both sides of the debate concede that if the United States imposes unilateral emission cuts, there will be a negligible effect on global temperatures.
For socialism is not a system; it is a disease. The "something for nothing" mentality is, in fact, an economic cancer.
"The Fed was set up to inflate, and that is what it does."
The global-warming debate has now been completely politicized.
"Such aggregates have little meaning, as all human action consists of striving for individual goals."
