Free Markets

True prosperity did not return until "the federal government relinquished its stranglehold on the American economy."

The wealth that strip-club patrons and strip-club moguls thought they had to throw around was but an illusion, and the reality is sobering for the entertainers, cabbies, politicians, and others who have been riding the strip-club boom.

"There is no incentive for bank depositors to go to the trouble of determining a bank's soundness if the government is going to guarantee deposits."

"Like all things designed to suit the taste of the masses, advertising is repellent to people of delicate feeling."

The progressives demanded efficiency in government and spurned traditional American practices as obstacles on the path to needed reforms.

"A manager is a junior partner of the entrepreneur, as it were, no matter what the contractual and financial terms of his employment are."

But what happens when government sanctions, and in effect legalizes, counterfeiting, either by itself or by other institutions? Counterfeiting then becomes a grave economic and social problem indeed. For then there is no one to guard our guardians against their depredations of private property.

The downward manipulation of the interest rate drives a wedge between the (real) market interest rate and the societal time-preference rate, and therefore wreaks havoc with the economy's intertemporal production structure.

For socialism is not a system; it is a disease. The "something for nothing" mentality is, in fact, an economic cancer.

Austrian economists are not fooled, because they reject the idea of empirical data in the validation of theory in the social sciences.