A Quote by Murray Rothbard
If government wishes to see a depression ended as quickly as possible and the economy returned to normal prosperity, what course should it adopt? The first and clearest injunction is: Don't interfere with the market's adjustment process.
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It is not from the tall crowded workhouse of prosperity that men first or clearest see the eternal stars of heaven.
I largely agree with those that hold that Government should not in general interfere with the course of the economy merely on the strength of its own commercial judgment. If we cannot rely on the judgment of individual businessmen, taking their own risks, we have no future anyway.
The more the government intervenes to delay the market's adjustment, the longer and more grueling the depression will be, and the more difficult will be the road to complete recovery.
That this is possible may not be denied in a world where hundreds and hundreds of thousands of people voluntarily submit to celibacy, obligated and bound by nothing except the injunction of the Church. Should the same renunciation not be possible if this injunction is replaced by the admonition finally to put an end to the constant and continuous original sin of racial poisoning, and to give the Almighty Creator beings such as He Himself created?
That's the thing I want to make clear about depression: It's got nothing at all to do with life. In the course of life, there is sadness and pain and sorrow, all of which, in their right time and season, are normal-unpleasant, but normal. Depression is an altogether different zone because it involves a complete absence: absence of affect, absence of feeling, absence of response, absence of interest. The pain you feel in the course of a major clinical depression is an attempt on nature's part (nature, after all, abhors a vacuum) to fill up the empty space.
We have gotten to the point where everything the government does is counterproductive; the conclusion, of course, is that the government should do nothing at all, that is, should retire quickly from the monetary and economic scene and allow freedom and free markets to work.
The statesmen still say that we should not interfere in the internal affairs of other nations and yet it is not possible any longer not to interfere, even when we do not mean to do so.
I think, my own personal view is there should be higher and higher levels of autonomy; government should not interfere in setting up colleges, in running colleges. The market, the society will decide which is a good university, which is not a good university, rather than government mandating.
Lawmakers who interfere with commerce and the normal creation of jobs in an economy run the risk of doing harm rather than good. Unintended consequences from regulating or legislating to achieve a goal can occur and cause havoc in the markets or an economy.
Globalization, meaning the global expansion of a market economy, is the only way we can guarantee widespread prosperity and peace. A lot of nations are just so small, that unless they can sell their goods and services on the market they're never going to develop, they don't have an internal market that's big enough to sustain anything.
I know many of you are hurting and angry about the economy, and I don't blame you. It's the worst economy since the Great Depression. When consumers can't buy and businesses won't expand for lack of customers, the government has to be the purchaser and employer of last resort. We learned that in the Great Depression, but Republicans obviously didn't - and they've blocked every jobs program I've offered.
I have spent my entire career advocating for free-market economic policies, trying to convince the leaders of this country that unnecessary government interference in the market-place - and let's face it, most government is totally unnecessary - destroys liberty and inhibits prosperity.
He who only wishes and hopes does not interfere actively with the course of events and with the shaping of his own destiny.
To the extent that bank panics interfere with normal flows of credit, they may affect the performance of the real economy.
Conservatives insist that government should be "run more like a business." One might wonder how that could be possible, since government does not market goods and services for the purpose of capital accumulation.
Globalization can be very unjust and unfair and unequal, but these are matters under our control. It?s not that we don?t need the market economy. We need it. But the market economy should not have priority or dominance over other institutions.
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