As a result of his misunderstanding of economic theory, the Pope failed to see the connection between every depression we have experienced in modern times and governments' intervening in the free market — the very system that, if left free of distributive-justice actions on the part of governments, would guarantee the attainment of the common good.
The incident points out another lesson in political science, namely, that the state never achieves complete ascendancy over society (if it did, society would disintegrate and the state would collapse from lack of nutrition), and that there are always critics and rebels.
Just as Keynesians and financial commentators bemoan the fact that people are reacting to the current downturn and stock market crash by saving instead of spending and investing, Law did all he could to keep investors from fleeing his crashing Mississippi Company shares and battered currency.
Llosa takes a critical look at the cultural and political institutions that have stood in the way of liberal reforms or distorted reforms for private gain.
The reversion in this century to ever-greater statism threatens to plunge us back to the barbarism of the ancient past.
Libertarians have been critical of zoning laws, which restrict the ability of property owners to develop their property or use it for their desired purposes.
As I see it now, democracy is not to the advantage of the demos, it is to the advantage of the power elite.
Is there any reason a reader should place any more confidence in the work of an historian than in the work of an historical novelist? The answer is that everything depends on what historian we're talking about, what novelist we're talking about, and what kind of historical fiction we're talking about.
"The film brilliantly portrays how the Right prepares the way for the Left — in both the United States and Russia."
In 1956, Mises showed how the supposed failures of the market economy were failures of the state and documented the traits of anticapitalism. In 2009, the facts have changed but the message remains the same.
