Economics For Dummies

This is what common working people instinctively already know but the political class in Washington refuses to hear:

1.  Confiscatory taxation encourages borrowing.  Instead, our Federal Government ought to encourage equity formation.

2.  “THE FUNDAMENTAL DEFICIENCY IMPLIED IN EVERY QUANTITATIVE APPROACH TO ECONOMIC PROBLEMS CONSISTS IN THE NEGLECT OF THE FACT THAT THERE ARE NEVER ANY CONSTANT RELATIONS BETWEEN ECONOMIC DIMENSIONS.  THERE IS NEITHER CONSTANCY NOR CONTINUITY IN  THE VALUATIONS OR FORMULATION OF EXCHANGE RATIOS BETWEEN VARIABLES.  EVERY NEW DATUM BRINGS ABOUT A RESHUFFLING OF THE WHOLE PRICE STRUCTURE.”

Don’t believe me, that was the late, great Ludwig von Mises in 1949.

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About William Holland

Systematic Theologian/International Relations
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