One will occasionally hear from a libertarian activist that Disney World is some sort of model for totally private governance. This is a huge exaggeration of the reality.
While the Fed governors claim "all is well" and that inflation is "transitory," the bad news continues to pile up. Inflation will be with us for a long time.
Disney's special legal status in Florida is reminiscent of the mercantilist corporations of old. They were granted favors at the expense of ordinary businesses who did not enjoy the favor of state officials.
The quickest way to discredit an intellectual opponent is to accuse that person of being a "conspiracy theorist." But what happens when real conspiracies occur?
The "experts" solemnly tell us that deflation is even worse than inflation, and that deflation always will lead an economy into recession. The truth turns such "wisdom" upside down.
We are told that economic growth goes along with liberal democracy. But social institutions play an important role that transcends the political order.
