The fully satisfied individual is purposeless, he does not act, he has no incentive to think, he spends his days in leisurely enjoyment of life. It is certain that living men can never attain such a state of perfection and equilibrium.
Many advocates claim government intervention is necessary because markets are too unstable. The real instability, however, comes from the immense uncertainty over what government will do next with its vast and arbitrary power.
Today's neoconservatives have found common cause with the Left in destroying those who disagree with them. In fact, this habit of denying a forum to any and all dissenters has a long tradition in the conservative movement.
The fact that central bank policies become ineffective in reviving the economy is not due to the liquidity trap, but because of the decline in the pool of real savings. This decline emerges due to loose monetary and fiscal policies.