In education, it is said that the state must impose schooling on all children, else the parents and communities will neglect it. Only the state can make sure that no child is left behind. The only question is the means: will we use the union and bureaucracies favored by the left, or the market incentives and vouchers favored by the right. I don't want to get into a debate about which means is better, but only to draw attention to the reality that these are both forms of planning that compromise the freedom of families to manage their own affairs.

The Fed is pushing a variety of workarounds that would inject trillions in new money into the economy while bypassing the banking system altogether. Time will tell whether or not this will succeed. Meanwhile, a serious danger lurks around the corner. Once the recession is over, the lending will start again. With fractional-reserve banking and limitless supplies of cash on hand, we will likely see the overall price trends reversed, from deflation to inflation to possible hyperinflation.

In any government bureaucracy, they are not working for you but for the mythical blob called the 'public sector,' which is really nothing but a stash of stolen cash divided among the robber class.

Socialized medicine must fail for the same reasons all socialism must fail: it offers no system for rationally allocating resources, and instead promotes the overutilization of all resources, ending in bankruptcy.

Without market prices for capital goods, accounting is not possible. You don't know if you are making money or losing money, saving resources or wasting them, doing the right thing or not doing the right thing.

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.

The laws of economics tell us that the expansion of the central state can't go on forever. Its limit is reached when the looted turn on the looters.