With his latest book, George Will has inched back toward his libertarian roots. But he is still far too enamored of the Tory paternalism that has long infected his work.
The Swiss state should end antigold regulations, end negative interest rates, and return to zero rates on bank reserves. These are small steps on their own, perhaps, but would be progress away from the brewing mess that is the eurozone.
It should be clear by now that the unbacked paper money system is not only a cause of crises, it is also the central instrument of control for the oligarchic party elites and their supporters.
With a sound money, none of these distortions would have been possible: the limitations of the currency itself would have forced an unwinding of excessive risk far before it could become a clash between major hedge funds and Reddit trolls.
The center-right government that came into power in July of 2019 has failed to liberalize the economy and make market-oriented reforms, with the pandemic making things even worse.
As Thanksgiving approaches, we should be thankful to society’s economic benefactors rather than condemning them because of the wrongheaded ideology of egalitarianism.
