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"It is not true that the masses are always right … ‘Belief in the common man’ is no better founded than was belief in the supernatural gifts of kings, priests, and noblemen.”
Money and Banks
The idea that supply chain problems are “driving inflation” gets the causation backward. It’s money supply inflation that’s causing the supply chain problems, not the other way around.
The more an economy is centrally planned, the more chaotic are the relationships within it. The freer people are to make their arrangements in the market, the more coordinated things become.
Decentralization and Secession
All polities come to an end sooner or later. The fanciful America-will-last-forever position is something that should seem plausible only to small children or the hopelessly naïve.
Price controls, or antigouging laws, discourage innovation and sometimes can lead to supplies of goods and services being directed to other markets. In other words, price controls lead to shortages.
In one region of Venezuela, gold flakes have become the currency of choice in the region, with prices for commodities and services quoted in grams of gold.
One mistake we make is to assume that the people who shout the loudest about their research must thus be right, or even know what they’re talking about.
If a businessman pulls a gun on a customer and demands 20 percent more for a product, that is robbery. If a politician intervenes to the same effect, it is fair trade.