With a private property-based economy, each person is ultimately the judge of the truth. Particular newspapers and other information services, particular schools and universities, and even particular artists and entertainers are supported or not supported depending on their ability to secure an audience. To be sure, one’s “audience” need not constitute a majority and might only be a few. As John Stuart Mill taught, consideration of alternative ideas should neither be limited by the tyranny of the government nor by the tyranny of an overly orthodox social majority. FULL ARTICLE
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4 comments ↓
I have a feeling that the government wants to “bail out” read: buy – every industry in the country. Stalin would be proud!
i agree Stalin would be pleased …but how about a bail-out fro the middle class working men & women who still have jobs ?
Steve, are you suggesting that the government should “bailout” people who have jobs?
The government really should be doing nothing of the sort. First of all, the government is broke. Just to continue to exist it needs to borrow billions from the chinese and the japanese. Secondly, it’s completely against the principles of a free society to take money from one group of people for the advantage of another group.
The best thing the government can do in this situation is get out of the way and let the correction work its course. Otherwise, we’ll be facing something much longer, and much more difficult than even the great depression.
No doubt that there shouldn’t be bailouts of any kind. Bailouts only continue to subsidize and encourage bad behavior, bad choices, bad management, bad financial decisions, and the like.
It’s true – the federal government doesn’t have any money, so they’ll just have to print it up, or borrow it. That’ll give us the tax of inflation – higher prices for all goods and services – higher than what is coming already.
A great primer for these general economic principles is always Henry Hazlitt’s masterpiece, Economics in One Lesson.
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