Interventionism

The Chinese economic miracle is nothing but a redder version of Keynesianism.

From Man, Economy, and State, narrated by Jeff Riggenbach.

If pushing down the short-term interest rate doesn't seem to be fixing the economy, let's push down long-term rates and see what happens. Shucks, we might as well try! It would be a shame to not use this shiny printing press.

All these laws imply that industry is made up mainly of incompetents and crooks.

Every day, before waking, I use a number of items my hands could not create in a thousand lifetimes.

Bernanke's policy gun is out of bullets. His policies have brought low growth, high unemployment, and a 7.2 percent increase in producer prices over the last 12 months. Attempts at stabilization have instead wrought chaos.

The Fed's entire policy program suffers from the same defect that all market interventions suffer from. The moment you stop intervening, the underlying problems come to the surface again. Administrative price setting does not change economic reality, at least not for the better.

Texans are suffering terribly. Some pray for rain. Some curse Mother Nature. They should be cursing the government and praying for freedom from the environmental bureaucrats who have caused this shortage of water. Murray Rothbard predicted this in 1993.