Monday, April 27, 2015

Monty's Excellent Explanation

Friend Monty Pelerin writes:

"There are no economic problems. There are only political problems. Economics is self-equilibrating, if not meddled with. Every political intervention is an attempt to thwart individual intentions and corrective adjustment. Political intervention does not help although it may hide (temporarily). Every political intervention makes the economic issue worse. Small targeted problems turn into large targeted problems.
If the political class continues to try to suppress the corrective mechanism, eventually the system seizes up and even collapses. That is what has been occurring over the last several decades."
Enjoy the entire piece here

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