More important, all players in the game have revealed themselves to be interventionists. (Okay, we knew this already but confirmation is nice.) Regardless of party, they see the economy as something to fix by turning a knob here, pulling a lever there, and stepping on a pedal over yonder in order to get the desired performance: higher consumer spending, lower unemployment, increased investment, and so on. It’s as though the economy were a machine in need of adjustments and a few quarts of oil. But an economy is not a machine. It’s a network of people engaged in myriad exchanges of goods and services –pursuing end-oriented activities informed by subjective values and expectations. Such information is largely unavailable to politicians, bureaucrats, and their economic advisers.Read the full TGIF here.
Proudly delegitimizing the state since 2005
"Aye, free! Free as a tethered ass!" —W.S. Gilbert
"All the affairs of men should be managed by individuals or voluntary associations, and . . . the State should be abolished." —Benjamin Tucker
"You must first enable the government to control the governed; and in the next place oblige it to control itself." —James Madison
"Fat chance." —Sheldon Richman
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