Tuesday, 27 January 2009

Enemies of Freedom and Markets

Another excellent piece from the Mises institute. Will expand this post later.


Reading the above took me to a piece by Mises himself. I quote:

There is no use in arguing with people who are driven by “an almost religious fervor” and believe that their master [Keynes] “had the Revelation.” It is one of the tasks of economics to analyze carefully each of the inflationist plans, those of Keynes and Gesell no less than those of their innumerable predecessors from John Law down to Major Douglas. Yet, no one should expect that any logical argument or any experience could ever shake the almost religious fervor of those who believe in salvation through spending and credit expansion.

The highlighted last sentence says it all really. Why, just why does Brown and New Labour think it'll work this time, when all the evidence of history denies it?

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