Mises Daily

The market's love of reality is triumphant.

Freedom works; market prices guide people to make the necessary adjustments after a big surprise.

Just as Keynesians and financial commentators bemoan the fact that people are reacting to the current downturn and stock market crash by saving instead of spending and investing, Law did all he could to keep investors from fleeing his crashing Mississippi Company shares and battered currency.

The vast majority of American workers remain stubbornly nonunion despite the best efforts of labor unions, the federal government, its court intellectuals, and the mass media.

Nowhere in this document or in successive drafts by Mason and Thomas Jefferson do we read words that could lead the reader to conclude that the federal government ought to care for its citizens or that we ought to look out for one another or that a central government ought to violate our individual natural rights to freedom, independence, and property to achieve the absurdity of mandatory equal access, equal price, equal quantity, and equal quality of health care for all.

The whole idea is just plain dumb, not to mention incredibly ill-timed.

The two haute couture lines creating the most buzz are "Laissez-Faire," by Ludwig von Mises, and  "Après Moi le Déluge" by British export, John Keynes.

The requirements for wealth creation are simple: a favorable business climate free from overbearing regulation and a belief that the earnings from hard work and risk taking will not be confiscated by a government bent on the redistribution of income.

We have rejected the enrichments of a healthy capitalism in favor of an impoverishing government-run fascism. We have resurrected another great depression — and made America the crisis leader of the world, instead of, what it once was, the beacon for world prosperity.