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Free Enterprise Zone Quote of the Day, Adam Smith The natural effort of every individual to better his own condition, when suffered to exert itself...
Henry Lamb outlines a little bit of the history of socialist inspired government intrusion into the housing market, how nonsensical this intrusion is, how it hurts us, and what me must do to turn it around.
Let me repeat: we need a system in America where patients pay cash for basic services, and carry insurance only for serious illnesses and accidents. “Health maintenance” is the responsibility of each of us individually. We cannot continue to collectivize the costs of healthcare and expect things to get better. -- Ron Paul
What does this mean for economics as a discipline? I think it’s time we admit many economists are just soothsayers. They keep their jobs for a host of reasons that have less to do with accuracy and more to do with politics and obscurantism. Indeed, where do you find them but in bureaucracies—those great shelters from reality’s storms? Governments and universities are places where big brains go to be grand and weave speculative webs for the benefit of the few. - Max Borders
Interestingly, Milton Friedman and Murray Rothbard, both free-market economists, reached opposite conclusions about the declining money supply. While Friedman blamed the Fed, Rothbard celebrated what he saw as the people’s attempt to overturn fractional-reserve banking, which he believed is inherently fraudulent. Either way, the fingerprints of government were all over the bank failures of the 1930s and the Great Depression generally. - Warren C. Gibson
The bottom line is that socialist planners attempting to abolish markets, but interested in efficiency, would have no way of knowing what people value, so they would be unable to determine what outputs to make from a given set of inputs or which inputs to use to make any particular output. They would not be “planning;” they would be stumbling around in the dark and the result would be economic chaos and poverty. - Steven Horwitz
The people who carry signs condemning Rand Paul, and the people – from Obama on down – who insist on saddling the market with more regulations and government control, are people who can’t see that the immediate “feel-good” of a government-guaranteed mortgage is an opiate that must inevitably be followed by a painful loss and withdrawal. - Henry Lamb