PrestoPundit

THE CURRENT CRISIS —

Posted by PrestoPundit on 09/17/2008

HAYEKIAN ECONOMIST PETER BOETTKE WEIGHS IN:

government must .. get out of the
way of market adjustments.  Government is NOT a corrective.  More often
than not, it is the source of our economic
difficulties.  No bailouts, eliminate regulations, certainly no
nationalizations, no priming of the pump with easy money, just allow
firms to be weeded out that made imprudent decisions, allow capital to
be reallocated, and permit prices to adjust to the new market
realities. 

David Hume argued that the foundation of society was
stability of possession, transference by consent and the keeping of
promises.  It is easy to see why violating those principles of social
interaction would result in chaos — e.g., ‘societies’ governed by
predation, stealing, and betrayal ..

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