The remains of the Roman Forum, Coliseum, and the palaces of Palatine Hill, are proof that empires fall, despite the wonders created by the political class in attempts to placate the masses. In addition, these sites show that every empire needs a war for victories, and enemies for threats. Sadly, we have not learned these lessons.
Finally, I must add that Sennholz has never been shy about insisting on the centrality of ethics in the study of economics. He has decried the welfare state as confiscatory and immoral. He has called inflation a form of theft. He has identified government intervention as coercion contrary to the true spirit of cooperation.
Political entrepreneurs are experts at fabricating false crises to convince the public to acquiesce in their policy proposals.
[This article is taken from chapter 19 of The Ethics of Liberty.
Economic freedom in fact reduces unemployment to levels significantly below those in less free countries. The Amish may hold the secret to full employment, but rejection of modern capitalism is full employment in poverty and hardship, not the rich fruits of progress.
The regulators are effectively saying that they know more efficient ways of organizing markets than those who actually buy and sell.
One day Social Security will go from being a reality supported by myths to a memory whose myths were debunked by reason.
And as every good socialist knows, the best way to get rid of advertising is to get rid of competition and the need to market anything in the first place.
Leftist ideologues do pose a real threat. Many people find their rhetoric convincing. But all the Left really has to defend their position on minimum wages and other issues are faulty studies, demagogic remarks regarding poverty and racism, and vague references to "social justice." Logic and evidence are on our side.
Like any other consumer, the government must turn to the production process — that is, to producers — for its funds. But unlike ordinary consumers, who obtain their incomes through voluntary exchange, the government obtains its income by means of forcible taxation.
