A Quote by Seth Klarman

The government can always rescue the markets or interfere with contract law whenever it deems convenient with little or no apparent cost. (Investors believe this now and, worse still, the government believes it as well. We are probably doomed to a lasting legacy of government tampering with financial markets and the economy, which is likely to create the mother of all moral hazards. The government is blissfully unaware of the wisdom of Friedrich Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.")

Seth Klarman

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Quote Author

Seth Klarman
American - Author
Born: May 21, 1957

The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

Friedrich August von Hayek

You need a government that believes in government. It also believes in markets and wants to give markets the best, the greatest opportunity, but is trying to govern well.

George Soros

The government - the ultimate short-term-oriented player - cannot withstand much pain in the economy or the financial markets. Bailouts and rescues are likely to occur, though not with sufficient predictability for investors to comfortably take advantage. The government will take enormous risks in such interventions, especially if the expenses can be conveniently deferred to the future. Some of the price-tag is in the form of back- stops and guarantees, whose cost is almost impossible to determine.

Seth Klarman

The government can't create jobs; they'll destroy jobs trying to do it. The government doesn't have any money; all they have is a printing press. We need to free markets to create jobs; if the government wants to help, they should reduce their burden on the economy.

Peter Schiff

Powerful government tends to draw into it people with bloated egos, people who think they know more than everyone else and have little hesitance in coercing their fellow man. Or as Nobel Laureate Friedrich Hayek said, "in government, the scum rises to the top".

Walter E. Williams

Finally, let's keep well in mind the most important lesson of the auto rescue: While government should stay away from the private sector as much as possible, markets do occasionally fail, and when they do government can play a constructive role, as it did in the case of the auto rescue.

Steven Rattner

The analysis in the era of Ronald Reagan and Margaret Thatcher was that government was interfering with the efficiency of the economy through protectionism, government subsidies, and government ownership. Once the government "got out of the way," private markets would allocate resources efficiently and generate robust growth. Development would simply come.

Joseph Stiglitz

One of the reasons some of the advocates of ever larger government and more government intrusiveness get nervous about discussions of the actual cost of government is that they fear if the people had a discussion about what government costs, the true cost of taxes, that they might not want as much government as they are presently getting.

Grover Norquist

P.J. O'Rourke says that conservatives really hate government and every couple of years we put them in charge and then we're reminded how much we really hate government. We're not always necessarily great at the task of running government. We're the anti-government party. It actually makes some sense we're not so good at that. But you got to have basic competence in how you run the government, even in how you reduce its effectiveness in people's lives.

Matt Schlapp

I saw the government really using the excuse of a weak economy and a financial crisis to create more government and to push onto the American entrepreneurial society more and more restraints and government activity.

Rob Portman

Government isn't there just to administer life support to failing markets. Without the government, many of those markets would not even exist.

Rutger Bregman

Do you know that all of the money that we are spending, that the government is spending, must come from you? The government has no great pile of gold to which it can go to get what it gives you. The government has not one cent that it does not take from your pockets. Do not imagine, do not believe, do not go on the theory that you are not to pay this bill, unless the fundamentals of our government are to be overturned.

J. Reuben Clark

The government is always looking for something that appears more dangerous than itself, and these criminals seem to fit the bill. Never mind that it was the government that promised but failed to protect us. It was the government that prevented the airlines from protecting themselves. It was the government that so badly botched the rescue operations. It was the government that had stirred up the hate that led to the terrorism.

Llewellyn Rockwell

If the people fail to vote, a government will be developed which is not their government... The whole system of American Government rests on the ballot box. Unless citizens perform their duties there, such a system of government is doomed to failure.

Calvin Coolidge

I'm a little embarrassed about how long it took me to see the folly of most government intervention. It was probably 15 years before I really woke up to the fact that almost everything government attempts to do, it makes worse.