"Whenever the central bank inflated itself into financial trouble, the government stood ready to allow it to suspend specie payments."
Collectivism and interventionism emphasize the importance of national boundaries.
"The quality of a university graduate has been devalued in recent years to the point where an employer will no longer be impressed at all by an undergraduate degree."
"The modern notion that the acts of a political council have, as such, better moral foundation than the acts of the stock exchange is of course nonsense."
"What if the management is done by the government? Then we abandon the realm of service and enter into the realm of policy."
Seeing the rise of effective new competition, the older artisans and manufacturers turned to the state apparatus to try to shackle the efficient up
"The London merchants were not, however, content with free-market development, and power began to move in on the market. Specifically, the London merchants began to reach for export monopoly."
It is likely that with the bailout of Greece we have already passed this point of no return.
it is not possible to create something by printing money and redistributing real wealth. All that such policies produce is a further economic impoverishment.
