State intervention and a crushing fiscal policy made the whole empire groan under the yoke; more than once, both poor men and rich prayed that the barbarians would deliver them from it.
Price-control schemes have been failing for thousands of years. Now it looks like politicians in Washington are going to give price controls yet another try.
Contrary to popular thinking, we do not need the central bank to stabilize prices in order to promote economic prosperity. The central bank can neither know the "correct" level at which to stabilize prices, nor can it know the right way to do it.
One of the most instructive of all examples from maritime history is that of privateering, that is, the employment of profit-seeking, private armed ships during wartime.
