Interventionism

You rarely know the prices of what you are getting.

"The fact that credit booms are encouraged by derivative instruments has substantially increased the destabilizing effects of an artificial credit-expansion policy carried out by keeping the market interest rates below natural interest rates."

Until that happy day when education is disestablished, Illich is searching for methods of moving strongly away from the public education system.

Still, the book is a beginning — an attempt to communicate free-market solutions to specific problems, to classes of people usually inimical to this approach.

We can understand the reaction today to people calling to "end the Fed."

All that stands between the present awful reality and 0% unemployment is a class of social managers unwilling to admit error.

Maybe letting the market fix what government broke isn't an option they can bring themselves to embrace, even if it's the only way out.

In the course of lengthy arguing against hidden usury in various forms of contracts, the brilliant mind of San Bernardino stumbles, for one of the first times in history, upon what later would be called 'time-preference'.

Alexander Gray (1882–1968) is my favorite historian of economic thought.

From the market point of view the Fed is a bankrupt institution.