Financial Crisis: The Failure of Accounting Reform
Just as "war is too important to be left to the generals," accounting is too vital for the economy and everyone's finances to have been left to the experts.
Just as "war is too important to be left to the generals," accounting is too vital for the economy and everyone's finances to have been left to the experts.
In the case of downloads, the great hunt promises to cripple the Internet. And HADOPI is only one of the state's tentacles.
I am confident that the above would make a heck of a lot more sense than letting blind heroin addicts borrow an extra trillion dollars to "stimulate" the economy.
The Marxians, Keynesians, Veblenians, and other "progressives" know very well that their doctrines cannot stand any critical analysis.
What we need are real lasting tax cuts and a corresponding movement of spending out of government and into the private sector.
It is interesting to see the psychology at play here: give the banks more money or else the massive stimulus will fail due to "instability."
"These false prophets of capitalism are the greatest friends that proponents of socialism have."
Lucas's view — namely, that the 1929 downturn would have been a run-of-the-mill depression, but the Fed's timidity turned it into the Great one — was popularized by Milton Friedman.
The costs of the persecution of bingo operators are not limited to the financial burden on taxpayers but also include loss of individual liberty and the unintended consequences, which are difficult to quantify. Citizens, no matter how rich or poor, have the right to make bad decisions.
In order to bring our economy back on track, government needs to get out of the way of entrepreneurs and capitalists. We need to leave holes undug and paper unprinted.