Categories
economics free market

More wisdom from the Austrian school…

The story is told that Ludwig von Mises was once asked, “Do you mean to say that the government should have done nothing during the Great Depression?” Mises responded, “I mean to say it should have started doing nothing long before that.”

The point being that it isn’t enough to “do nothing” once a bad situation comes up. I certainly advocate non-intervention in market processes but the important thing to remember is that there hasn’t been a major economic “crisis’ that wasn’t fueled by government distortions and incompetence. I may sound like a broken record, but it’s true. Systematic collapse and long term depressions are not possible without government meddling.

HT FEE

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