Mises Daily
Author:
Friedrich A. Hayek
Online Publish Date:
between countries according to whether they follow a wise or a foolish economic policy. So long as the distribution of funds rests on a political decision, they must indiscriminately, and they are as likely to further the continuation of harmful policies as the adoption of good ones. In the past, the need to attract foreign The scheme proposed here is intended to bring about exactly what, in normal times, competition for American funds would gradually and slowly establish — conditions