Interventionism

In a free market, no shortages would exist. In fact, it is very unlikely any of the earth's resources would be used up.

"We are seeing the disintegration of the fractional-reserve banking system all over the world. It is being held together by bailouts, which are the government equivalent of bailing wire and chewing gum."

My own preference is, first to allow market adjustments to take place.

"Let's go back to using real money."

The present crisis is not a crisis of capitalism but a crisis of state interventionism, and it is also a consequence of a mechanicist approach to economic problems.

Presented at the Mises Institute’s Brown Bag Seminar series. Recorded on 10 January 1996.

Throwing money at Flynt and Francis — like bailing out the automakers and the big banks — stifles innovation and new technologies in order to keep outmoded business models in place at the expense of taxpayers.

Finally, let us remember that there is a word that can never be discussed or even mentioned when we talk about the myriad flawed federal, state, and city transportation systems.That word is "privatization."

Instead of trying to abolish failure via bailouts, we should let markets work, let failure run its course, and be so much the wiser for it.

In a free society, Mr. Grushevski has every right to be entrepreneurial and to start a restaurant that only hires men who want to serve food in tank tops and shorts.