As government spending spins out of control, the Federal Reserve continues to inflate, leaving the economy in a permanent state of inflation. Most Americans will find themselves falling further and further behind.
So-called democratic socialists claim they just want to empower ordinary people through democracy. Socialism, however, invariably must turn into a top-down system of central planning in which the state is all-controlling.
If the individual cannot keep what they earn, cannot build, cannot invest, cannot act without permission, then the income from tourism is nothing but a fleeting consumption and a steady stream of rent for the ruling class.
It is easy to think of inflation as just being economic in scope. Yet, as inflation becomes an expected part of life, it affects the culture as well, encouraging everyone to try to live beyond their means.
The concern over concentrated influence of corporate special interests is valid, but not because corporate special interests will prevent economic regulation. In fact, they invite regulations.
Hayek for the 21st Century—Our New 100,000 Book Giveaway
Hayek for the 21st Century is a primer for the layperson, introducing a new generation of readers to Hayek’s writings and hopefully avoiding the 20th century’s mistakes in the 21st century.
