Other Schools of Thought

The exercise of arbitrary or dictatorial power is, of course, the whole purpose and function of all those agencies, commissions, and czars.

The horror of starvation no longer terrifies men living in a capitalist society.

Setting your entire production structure on the whims and fancies of bureaucrats and politicians, based upon central-planning diktat quickly leads to economic chaos.

"Jefferson described the new judicial establishment as 'a parasitical plant engrafted at the last session on the judiciary body'."

I cannot agree with Professor Krugman's statement that the Austrian business-cycle theory is not "worthy of serious study."

On January 22, 1991, Mikhail Gorbachev, the president of the Soviet Union, decreed that all existing 50- and 100-ruble banknotes were no longer legal tender and that they could be exchanged for new notes for three days only and only in small quantities. This had the effect of instantly deleting large portions of the savings and accumulated capital of private citizens.

"New York City taxicab licenses are strictly limited in number — so much so, that they have been sold for as much as $30,000. This effectively bars the poor from entering the field as owners."

European democracy broke down because there were no democrats left in continental Europe. The place held in America by the Gettysburg Address was occupied in Europe by the Communist Manifesto. No further comment is necessary.

"How can any human being learn autonomy, initiative, and personal responsibility when the decision of when, where, and whether he may eat his own food is not his to make?"

From Theory and History Part Two, “Determination and Materialism”. Narrated by John Pruden.