Woods and Gutzman have selected twelve cases to illustrate this disregard of the Constitution. By no means are all of these examples of judicial misconduct; the legislative and executive branches have been at least as guilty as the judicial in seeking to enhance government power.
To put it simply, those who truly want social progress should promote the idea that we should all think locally as individuals and act globally through the capitalist system. This is the creed of the true progressive.
We suggest that decades of reckless monetary policies by the Fed have severely depleted the pool of real savings.
So when Henry Paulson argues that it is necessary to pump money into credit markets to prevent them from freezing up, he doesn't bother to realize that the money he pumps into the credit markets is coming directly out of the very same credit markets.
If the market is left to its own devices, the price will be an accurate reflection of what something is worth at a given point in time. When the government intervenes, it forces the prices to lie: the signals about the costs and benefits of different actions will be distorted.
Nothing government can do can take away our freedom; and if we are a people who are truly free, the government will have to follow.
Some investors have come to believe that, whatever mistake they make, they have a right to their profits, and the authorities will enforce it. The rescue of Bear Stearns, the two GSEs and AIG will only fuel this belief.
It is a sign, rather, that we have allowed our monetary, fiscal, and regulatory authorities to lure us like lambs to the slaughter to the unwarranted socialization of the most important sector of the capitalist system.
Only wealth generators can revive the economy by accumulating enough real capital. In this regard, no government or central-bank policies can replace wealth generators.
