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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Tuesday, October 06, 2009

Quote of the day.....

The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

-F.A. Hayek, Austrian economist from his book, The Fatal Conceit-
Democrats and Republicans too, think that government can design solutions to economic problems or better the lives of citizens. However, chances are that these economic problems are the result of previous government interventions that did not have the planned effects or even ended up with opposite results. As far as bettering the lives of it citizens, its a zero sum gain, government can only better the lives of some citizens while worsening the lives of others.

As far as Hayek's thoughts that economics is a discipline to show the folly of intervention, in some respects, when one considers the likes of the leftist ranting of Paul Krugman, economists and economic thought is not so much a demonstration tool at all but a crude but acceptable implement to justify this intervention.

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