The crisis-ridden welfare states of South America show us that the fabled "third way" to economic prosperity isnot quite the cure-all we're told it is.
In a true market — i.e., without a central bank — banks are intermediaries of real savings in their lending activities, thus promoting genuine and real economic growth.
As I learned growing up in Allegheny County, the sign that reads, "Keep out, Property of Allegheny County," does not refer only to those who live outside the county.
Democracy is only allowed when the voters vote "correctly" according to the ruling classes. "Wrong" decisions will trigger court rulings voiding the vote. Or we'll just keep voting until people get it "right."
Business owners have always made errors, and external factors can lead to economic crises of various sorts. But the cyclical pattern of booms and busts we now see are a result of government interventions not seen in a free marketplace.
