"His widely published 'Letter to Washington' described the party of Hamilton as 'disguised traitors' who were 'rushing as fast as they could venture, without awakening the jealousy of America, into all the vices and corruptions of the British Government'."
It's been spend, spend, spend ever since. And as credit lines increased, so did the size of the ships.
To put it differently, morally significant action has to be freely chosen, not mere proper behavior.
The argument of sticky wages does not justify the existence of a central bank. Market prices, including wages, are flexible enough to smooth out macroeconomic disturbances.
"Economics is the science that studies these individual agents of the market and how they coordinate through the price mechanism to create, not just what the mainstream considers 'the market,' but society as a whole, all without the necessity of a central planner or authority."
"Whenever the central bank inflated itself into financial trouble, the government stood ready to allow it to suspend specie payments."
The Establishment media put it this way: After shilly-shallying in a weak and indecisive manner, the Carter administration has at last decided to &
Roosevelt solidified trends toward centralization that had been at work since the 1860s and institutionalized what amounted to a revolution in the American form of government.
With Man, Economy, and State, Mises concluded, "Rothbard joins the ranks of the eminent economists."
