"Fulfilling the doctrine of the 'invisible hand,' the speculator, by his profit-seeking activity, causes more food to be stored during years of plenty than otherwise would have been the case, thereby lessening the effects of the lean years to come."
"Instead of spending time on adapting their product to the desires of consumers, homebuilders are busy adapting their homes to the code. Innovation is the victim."
It is natural to wonder what scholar today has inherited the mantle of Rothbard. To me this is the wrong way to look at it. Rothbard vastly broadened that mantle so that hundreds, thousands, and millions of people can wear it.
Oh, one last thing. Brazil doesn't have the highest ratio of tax revenue to GDP in the western hemisphere. Cuba does.
Not only have they been mobilized for libertarian action and educated in libertarian ideas, including opposition to the public schools and the idea that taxation is theft, but the politicians have begun to knuckle under to their vociferous demands and actions.
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.
"Whenever the central bank inflated itself into financial trouble, the government stood ready to allow it to suspend specie payments."
