At the bottom of the interventionist argument there is always the idea that the government or the state is an entity outside and above the social process of production, that it owns something which is not derived from taxing its subjects, and that it can spend this mythical something for definite purposes. This is the Santa Claus fable raised by Lord Keynes to the dignity of an economic doctrine and enthusiastically endorsed by all those who expect personal advantage from government spending. As against these popular fallacies there is need to emphasize the truism that a government can spend or invest only what it takes away from its citizens and that its additional spending and investment curtails the citizens’ spending and investment to the full extent of its quantity.We've gotten ourselves in some serious trouble, and all we keep doing is piling on more of the same. It's not sustainable.
Because there's no such thing as too much cheese. Unrolling the braciole of consciousness; shaping the meatball of life. Because everything is funny; you just need to view it from the proper angle. Good for cats. Made in Poland. Because everything is like a hat. You know how those gorillas can be... Very unforgiving.
Friday, October 09, 2009
I'm glad Samizdata showed me this Mises quote the other day. I wonder if Frylock has anything to add?