With a few exceptions contemporary commentators on economic problems are advocating economic intervention. This unanimity does not necessarily mean that they approve of interventionistic measures by government or other coercive powers. Authors of economics books, essays, articles, and political platforms demand interventionistic measures before they are taken, but once they have been imposed no one likes them. Then everyone--usually even the authorities responsible for them--call them insufficient and unsatisfactory. Generally the demand then arises for the replacement of unsatisfactory interventions by other, more suitable measures. And once the new demands have been met, the same scenario begins all over again. The universal desire for the interventionist system is matched by the rejection of all concrete measures of the interventionist policy. (A Critique of Interventionism, p. 33)
". . . for almost a century the basic principles on which this civilization was built have been falling into increasing disregard and oblivion." -- Hayek
Monday, March 26, 2012
On Advocating Interventionism
Ludwig von Mises:
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