The difference between Donald Trump and Xi Jinping is that Donald cannot command companies doing business with the NFL to stop doing so until every football player who has kneeled during the national anthem publicly apologize for “offending the American people.” China can.
Interventions inevitably generate imbalances in the market that will force the government to either repeal the existing interventions or extend them in the futile attempt to use new interventions to compensate for the distortions its prior interventions have created, until finally the market has been supplanted by the command economy through a process of incremental expansion of the regulations and controls.
Steven Kates refutes Keynes’s caricature of the classical economists. Ultimately it is always goods that are traded for goods. Say’s Law, properly understood, explains both what causes unemployment and how to solve it..
Ayn Rand’s writings brought about an ethical and practical revolution in my thinking
Throughout the 19th century, a primary means for the provision of what today we call the “social safety nets” was by the private sector outside of government.
Mises’s brilliant treatise continues to be read and taken seriously as a cornerstone for understanding the nature of the free society and the workings of the market economy.
It was French king Louis XIV who declared, “L’etat c’est moi” (“I am the state”), indicating his insistence that he possessed absolute power over his subjects. This attitude is shared by Donald Trump, president of the United States.