Libertarianism is a theory of politics that is so compelling that once you have absorbed it, it becomes the lens through which you end up understanding all economic and political events.

The fact is that the New Deal did not work. It prolonged what might have been a troubling two-year downturn into a horrifying blow to world prosperity that ended up in a war that killed countless millions. It was one of the greatest acts of wreckage in world history.

Everything done by the state is ultimately done by means of aggression, which is to say violence or the threat of violence against the innocent.

Government planning not only fails; it tends to produce outcomes that are the opposite of what its proponents say that they favor. The only stable and productive social system is one that embraces human liberty in its totality, and defends the market economy, private property, sound money, and peaceful international relations, while opposing government intervention as economically and socially destructive.

Private enterprise creates; government destroys. That is the great economic lesson of our times and all times.

The larger the government, the more our livings standards are reduced. We are fortunate as a civilization that the progress of free enterprise generally outpaces the regress of government growth, for, if that were not the case, we would be poorer each year - not just in relative terms, but absolutely poorer too. The market is smart and the government is dumb, and to these attributes do we owe the whole of our economic well-being.

The private sector is creating a miracle a day, even as the stuff that government attempts is failing left and right.