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Pretty much everyone knows–or should know–that many, and maybe most, of the points made by most politicians are of little value, amounting to little more than equine feces at best. A commercial I saw the other day illustrated that the same is true of TV commercials. (Yes, I realize that’s no discovery. But still…) The advertisement I saw featured a clean-cut young man making a pitch to “buy American-made gasoline at Kwik Fill” because doing so “strengthens our economy.” Do people believe that type of thing? The short answer is: Yes. How do I know? Because presidents–and presidential candidates–have been saying pretty much the same thing for close to 4 decades, beginning with Nixon and continuing right up through Obama.
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Nice article in Investor’s Business Daily on Mises, which quotes extensively from TLS blogger Jeff Tucker and Austrians Bettina Bien Greaves and Mark Thornton:
Let Free Markets Work, Said Ludwig Von Mises
By PETER BENESH, FOR INVESTOR’S BUSINESS DAILY Posted 12/13/2011 01:47 PM ET
Ludwig von Mises was born in Ukraine, studied in Vienna, fought in World War I, and in 1940 landed in America, where he lectured and wrote books. View Enlarged Image
If he were around today to see the economic mess in the U.S. and Europe, Ludwig von Mises would be entitled to a big, fat “I told you so.”
Mises held that whenever government tinkers with the economy, especially the money supply, it screws things up.
Natural market forces do a better job of ironing out inflation, ending a recession and boosting employment, he said and wrote.
Though he lived to age 92, from his birth in 1881 in what is now Ukraine to his death in 1973 in New York City, Mises never drew the plaudits he deserved, says Jeffrey Tucker, executive editor of Laissez Faire Books, a libertarian publisher and bookseller owned by financial forecasting firm Agora Financial.
“Mises deserves every bit as much recognition as his contemporary, Albert Einstein,” Tucker told IBD.
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