Friday, February 20, 2009

Less than Nothing


The story is told that Ludwig von Mises was once asked, "Do you mean to say that the government should have done nothing during the Great Depression?" Mises responded, "I mean to say it should have started doing nothing long before that." I hope the story is not apocryphal, because it perfectly sums up the government’s proper role in managing the economy: none.

The rest of this week's TGIF, "Less than Nothing," is here.

Cross-posted at Anything Peaceful.

at

2 comments:

  1. AnonymousFebruary 20, 2009 at 10:30 PM

    Dear Sheldon,

    After reading your article, I was reminded of Howard Beale shouting "I'm mad as hell, and I'm not going to take it anymore".

    All the best,

    Joe

    ReplyDelete
  2. AnonymousFebruary 23, 2009 at 9:21 PM

    So if massive amounts of government spending is the answer to hard economic times, then I guess we can expect them to slash the budget dramatically when the economy rebounds, right?

    ReplyDelete