Tag: Money Printing

1167: Thomas Sowell – No Contact to Economic Reality

You can become president with no contact with economic reality. —Thomas Sowell

Tags American libertarians, American writers, Bureaucracy, Economics, Federal Reserve, Government, Ignorance, Money Printing, Reality, Thomas Sowell
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1163: Tom Woods – The Delusion of Keynesians

Keynesians think that you can take water from the deep end of the swimming, pump it into the shallow end of the swimming pool and somehow the water level of the swimming pool will rise. —Tom Woods

Keynesians think that you can take water from the deep end of the swimming, pump it into the shallow end of the swimming pool and somehow the water level of the swimming pool will rise. —Tom Woods

1127: Ludwig von Mises – Mass Unemployment not Caused by the Free Market

W1127: Ludwig von Mises - Mass Unemployment — Depressions and mass unemployment are not caused by the free market but by government interference in the economy. —Ludwig von Mises (The Theory of Money and Credit)

Depressions and mass unemployment are not caused by the free market but by government interference in the economy. —Ludwig von Mises (The Theory of Money and Credit)

Depressions and mass unemployment are not caused by the free market but by government interference in the economy. —Ludwig von Mises (The Theory of Money and Credit)

1085: Thomas Sowell – 25% Unemployment and Great Depression

W1085: Thomas Sowell - Unemployment and Great Depression — People say the government had to intervene during the Great Depression because of the 25% unemployment. What they don't understand is there wasn’t a 25% unemployment UNTIL the government intervened. —Thomas Sowell

People say the government had to intervene during the Great Depression because of the 25% unemployment. What they don’t understand is there wasn’t a 25% unemployment UNTIL the government intervened. —Thomas Sowell

1084: Thomas Sowell – If the Average Citizen Understood Economics

W1084: Thomas Sowell - Understood Economics — If the average citizen understood the basics of economics that was understood 200 years ago, most of the nonsense that is done in Washington would be impossible today. —Thomas Sowell

If the average citizen understood the basics of economics that was understood 200 years ago, most of the nonsense that is done in Washington would be impossible today. —Thomas Sowell

1080: Frederic Bastiat – Plunder Becomes a Way of Life

When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it. —Frederic Bastiat

1030: Henry Hazlitt – Predicted 2008 Housing Collapse

F1030: Henry Hazlitt - 2008 Housing Collapse — Government-guaranteed home mortgages, especially when a negligible down payment or no down payment whatever is required, inevitably mean more bad loans than otherwise. They force the general taxpayer to subsidize the bad risks and to defray the losses. They encourage people to buy houses that they cannot really afford. They tend eventually to bring about an over-supply of houses. They temporarily over stimulate building, raise the cost of building for everybody. May mislead the building industry into an eventually over expansion. In brief, in the long run they do not increase overall national production but encourage malinvestment. —Henry Hazlitt

Government-guaranteed home mortgages, especially when a negligible down payment or no down payment whatever is required, inevitably mean more bad loans than otherwise. They force the general taxpayer to subsidize the bad risks and to defray the losses. They encourage people to buy houses that they cannot really afford. They tend eventually to bring about an over-supply of houses. They temporarily over stimulate building, raise the cost of building for everybody. May mislead the building industry into an eventually over expansion. In brief, in the long run they do not increase overall national production but encourage malinvestment. —Henry Hazlitt

1027: Henry Hazlitt – Government Creates Artificial Demand

F1027: Henry Hazlitt - Artificial Demand — Inflation distorts the structure of production. It leads to the overexpansion of some industries at the expense of others. This involves a misapplication and waste of capital. Yet the ardor for inflation never dies. It would almost seem as if no country is capable of profiting from the experience of another and no generation of learning from the sufferings of its forebears. For it is the nature of inflation to give birth to a thousand illusions. —Henry Hazlitt

Inflation distorts the structure of production. It leads to the overexpansion of some industries at the expense of others. This involves a misapplication and waste of capital. Yet the ardor for inflation never dies. It would almost seem as if no country is capable of profiting from the experience of another and no generation of learning from the sufferings of its forebears. For it is the nature of inflation to give birth to a thousand illusions. —Henry Hazlitt

1024: Henry Hazlitt – Inflation is the Illusion of More Milk

W1024: Henry Hazlitt - The Illusion of More Milk — Printing money in place of real savings can create the illusion of more wealth. Just as the addition of water can create the illusion of more milk. —Henry Hazlitt

Printing money in place of real savings can create the illusion of more wealth. Just as the addition of water can create the illusion of more milk. —Henry Hazlitt

Printing money in place of real savings can create the illusion of more wealth. Just as the addition of water can create the illusion of more milk. —Henry Hazlitt