Quotes: Index by Author
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American money was never more sound, or banking more free, than 200 years ago. Since then, it’s been a long steady decline from the gold standard and competitive banking to our Fed-run system of inflated paper currency, deposit insurance, and perpetually shaky banks on the dole.
If something is wrong for you or me, it is also wrong for the cop, the soldier, the mayor, the governor, the general, the Fed chairman, the president. Theft does not become acceptable when they call it taxation, counterfeiting when they call it monetary policy, kidnapping when they call it the draft, mass murder when they call it foreign policy. We understand that it is never acceptable to wield violence nor the threat of violence against the innocent, whether by the mugger or the politician.
The only reason for a government service is precisely to provide financial support for an operation that is otherwise unsustainable, or else there would be no point in the government’s involvement at all.
Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.
Anything other than free enterprise always means a society of compulsion and lower living standards, and any form of socialism strictly enforced means dictatorship and the total state. That this statement is still widely disputed only illustrates the degree to which malignant fantasy can capture the imagination of intellectuals.
Even though they are a relatively recent policy development, civil rights laws are considered necessary to insure rights for blacks. But they are, in fact, among the most draconian forms of intervention into the free market. They attack the essence of private property, the ability to exercise control over it. Such laws have resulted in lessened economic freedom, lowered prosperity, heightened social tension, and more trouble for the groups the laws are supposed to help. ... A Korean grocer may want to employ only Korean clerks, a magazine for black professionals only black editors and writers, and a German restaurant only German cooks and waiters. An employer may think that Iraqi-Americans have been unfairly treated and want to favor them. A women’s health club may want only women customer’s and a men’s bar may want only men. There is nothing wrong with any of these behaviors, although civil rights laws seek to end them. In addition to violating the free labor contract, civil rights laws guarantee everyone the right of “access” to “public accommodations” like restaurants, movie theaters, and shops. In fact, what the civil rights laws call public is really private. These businesses are established by private entrepreneurs with private money. The owners should no more be required to serve everyone who comes into their place than they are required to invite everyone to their home for dinner. A large downtown restaurant is as private as a small house in the country. The real difference between private and public is one of ownership, not function or location.
Lew Rockwell Quotes 1-6 out of 6
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