The political right has always known that free lunches is no way to run a government, but the political left has obviously not agreed as it has pushed collectivism for decades and John Maynard Keynes is the left’s economic superman. I suspect the reason the left loves Keynes economic philosophy is becuase they are more on the look out for personal gains than most on the right are.
Gary North has written a short, easy to understand article that is a re-working of Henry Hazlitt’s book, Economics in One Lesson (1946). North and Hazlitt were friends and North’s book contains the same economic alalysis as Hazlitt’s, but Hwhereas Hazlitt did NOT deal with the ethics of government intrusions into the free market, North’s DOES deal with the intrusions. Hazlitt lost his job with the Washigton Times because he knew and openly said that the entire operation of the 1944 Btetton Woods agreement which created the IMF and the World Bank was against liberty.
Fortunately for America, he immediately was hired by Newsweek and was with that publication for 20 years.
The article per se, will be done in increments, which I think those who study economics will find most interesting.
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