Most people favor patent and copyright law because they believe that it generates net wealth — that the value of the innovation stimulated by IP law is significantly greater than the costs of these laws.
The weakness of a benevolent despotism is that there is no guarantee that it will remain benevolent. The Social Welfare State, the modern liberals' goal, is essentially a Germanic concept.
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.
The observers today most reminiscent of our forefathers are the armies of tea partiers and bloggers, incensed that Main Street has gotten the shaft, first from the evils of hyperextended credit, and doubly now that modern solutions may prolong the madness.
By Mises' teachings he has sown the seeds of a regeneration which will bear fruit as soon as men once more begin to prefer theories that are true to theories that are pleasing.
In a few brief years the character of the right wing had been totally transformed: Once basically classical liberal, it had become a global theocratic crusade.
