Sunday, March 01, 2009

Never Miss An Opportunity to Exploit a Crisis

Statist policies almost always expand during a crisis:
"With a long deep slump, I think the most likely outcome is that we will be 'strangled by the state.' All of the ambition and 'animal spirits' will be channeled into opportunities created by government appropriations and subsidies. In spite of a weak economy, statist policies will remain in place, because those who are receiving a share of the pie from the government will be a more potent political force than those who are upset that the pie is stagnant or shrinking."
It will be the Fatal Conceit to think that faceless, nameless bureaucrats can manage the economy to productivity better than the spontaneous order of the market.


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