There is nothing more liberal than a government subsidized bailout, and the dems won’t pass it.
Tag Archive for 'Bailouts'
Thursday, November 6, 2008
The present crisis is scary, but only because no one knows what crazy new scheme the government will introduce every other day. Resources were invested improperly during the housing boom, and the economy needs time to heal itself. The sooner the government gets out of the way, the sooner recovery can begin.
Interesting article by the Mises Institute, an economic think-tank based in Austria and Auburn, AL. Very compelling views on why the government should let the economy heal instead of intervening.
Monday, November 3, 2008
Surely, in a capitalistic order a fraction of national income is spent by the rich on luxuries. But regardless of the fact that this fraction is very small and does not substantially affect production, the luxury of the well-to-do has dynamic effects that seem to make it one of the most important forces of economic progress. Every innovation makes its appearance as a “luxury” of the few well-to-do. After industry has become aware of it, the luxury then becomes a “necessity” for all.
Great perspective on the importance of “the rich” (people making $200,000+ according to Obama). Seems as though redistribution of wealth isn’t such a great idea after all. Von Mises continues:
The poor performance of public enterprises is usually blamed on bureaucratic management. In order to render state, municipal, and other public operations as successful as private enterprise, they should be organized and directed along commercial lines. This is why for decades everything has been tried to make such operations more productive through “commercialization.” The problem became all the more important as state and municipal operations expanded. But not by a single step has anyone come closer to the solution.
Von Mises could be one of the most brilliant economists of our time. Having attended lectures from guest speakers from the Von Mises Institute, he should really be in Washington helping out the House and Senate.