Free Markets

Until that happy day when education is disestablished, Illich is searching for methods of moving strongly away from the public education system.

Given the rate at which our wealth and culture seem to be eroding away from beneath our feet, I urge both my elders and my peers to oppose the leviathan state and its cronies at every turn so we can start a new journey toward lasting prosperity.

After all, as motivated producers are necessary for providing marketable goods, so motivated sellers are necessary for delivering these goods to the willing buyers.

Still, the book is a beginning — an attempt to communicate free-market solutions to specific problems, to classes of people usually inimical to this approach.

Briefly, the importance of the Hayek theory of the business cycle is that it puts the blame for the boom-bust cycle squarely on the shoulders of the government and its controlled banking system, and, for the first time since the classical economists of the 19th century, completely absolves the free-enterprise economy from the blame.

All that stands between the present awful reality and 0% unemployment is a class of social managers unwilling to admit error.

Academic freedom, as such, is fraud and theft, because it denies individuals the right of free and voluntary contracts.

Alexander Gray (1882–1968) is my favorite historian of economic thought.

What Hazlitt is saying is this: "If we want to keep our free political system, here are the economic principles to which we must return."

But unlike today, the deflationists and hard-money men had the upper hand. As a result, the depression ended rather quickly (by 1821) when confidence in currency was restored and currency once again was redeemable in specie.