F.A. Hayek, in a forgotten article from 1941, observes the tragedy that "men of science and engineers" may "frequently be found leading a movement which in effect merely serves to support the unholy alliance between the monopolistic organizations of capital and labor."
Richard Cantillon saw the essence of the business-cycle problem long ago. When the government's national bank inflates the money supply by increasing the supply of banknotes, he writes, it reduces the rate of interest and can increase the price of stocks. This is a corrupt process.
Thomas Mun set forth what would become the standard mercantilist line.
Thomas Mun set forth what would become the standard mercantilist line. He pointed out that there was nothing particularly evil about the East India Company trade. The company imported valuable drugs, spices, dyes, and cloth from the Indies, and it re-exported most of these products to other countries.
We may either incorporate ourselves into market civilization, the system by which we may serve ourselves as ends by serving other people as means, or return to the idyllic and isolated "noble" savagery that long characterized our human past.
Tourist Joe can complain about rising prices in the event of a papal death, but he should recognize their role in minimizing problems resulting from scarcity.
"An improving economy neither consists of an increasing GDP nor does it cause the overall stock market to rise."
"The state enacts vague legislation and then makes the taxpayer pay for its interpretation."
In her claimed "ten years of study," all Annie Leonard learned how to do was be an environmental alarmist, political hack, and liar. How sad.
