Sep 21, 2009

Ludwig von Mises on the rejection of economic law

Princes and democratic majorities are drunk with power. They must reluctantly admit that they are subject to the laws of nature. But they reject the very notion of economic law . . . economic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics.

~ Ludwig von Mises, Human Action, p. 67

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