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The Road to Serfdom
This
masterpiece of Nobel
Prize laureate Friedrich
Hayek is an eye-opener, strongly advocating the free market
principles.
In
this all-time classic Hayek persuasively warns against the
authoritarian utopias of central planning and the welfare state.
Fascism, communism and socialism share these utopias. For the
implementation of their plans these
authoritarian ideologies require government
power over the individual, inevitably leading to a totalitarian state.
Every step away from the free
market toward planning reduces people's freedom and is a step toward
tyranny.
Planning is also inefficient as it cannot accurately
assess consumer preferences to efficiently
co-ordinate production. In a free market "Price" is the all-inclusive source
of information,
guiding entrepreneurs to produce whatever is wanted and directing
workers wherever they are most needed. Free
markets also provide the
entrepreneurial climate for a thriving
economy and for releasing the creative energy
of its citizens. Free individuals in their
native strive to develop their
talents and to improve their fate produce spontaneous progress.
All public interference in the economic process disturbs the market
equilibrium, distorts the optimal allocation of resources and
consequently reduces the level of wealth. Where planning replaces free
markets people do not only loose their
freedom and individuality. Resulting slow growth also increases welfare
demands causing dependence similar to slavery. In the end people's
self-reliance and
self-respect is ruined, and citizens are degraded to a means to serve
the ends of the collective mass.
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Highly recommended Essays from
THE
FREE STATE
The Free
State is the free quarterly newsletter of
NOVA LIBERTAS
Zomer 2007 - Summer 2007
Lente 2007 - Spring 2007
Winter 2006
Herfst 2006 - Fall 2006
Zomer 2006 - Summer 2006
Lente 2006 - Spring 2006
Winter 2005
Herfst 2005 - Fall 2005
Zomer 2005 - Summer 2005
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”The substitution of paper money
for
metallic currency is
a national gain:
any further increase of paper
beyond
this is but a form of robbery ...
All holders of currency lose by
the
depreciation of its value the exact
equivalent of what the issuer
gains.”
John
Stuart Mill
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The Path To Sustainable Growth
Lessons
From 20 Years Growth Differentials In Europe
Martin De Vlieghere and Paul Vreymans
Abstract: While
the rest of the world is booming, Europe lags behind. Europe's
performance is weak in spite of high productivity and knowledge, high
level of development and good labour ethics. Growth is also remarkably
dissimular among regions. France, Germany and Italy are stagnating, and
so do Denmark, Sweden and Finland. All gained less than 44% prosperity
over the last 20 years. The Irish economy grew 4 times faster, gaining
169% wealth over the same period. In half a generation Ireland so
metamorphosed into Europe's second richest country creating jobs for
all.
" Big government " is the main cause of Europe's weak performance. The
oversized Public Sector lacks productivity and is undoing the entire
productivity gains of the Private Sector, eradicating all of its
outstanding performance and productiveness. Europe could improve its
overall performance by copying the Irish success formulas: Scaling down
Public Spending, downsizing bureaucracy, and shifting the tax burden
from income on consumption. This book demonstrates why the Lisbon
Agenda and decades of Keynesian inflationist demand stimulation have
failed. It devellops an alternative and workable supply-side strategy
as well as effective cures for a humane and financially sustainable
development.
This book reads as a step-by-step manual for economic
recovery. It is a data-reference for students and
politicians interested in growth, wellfare and in social
modelling. It is a classic for economists
concerned about Big Government, poor public sector
productivity and for parents worrying about their declining
standard of living and their children's future.
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Big
Public Spending
means
poor Growth.
Slow
Growth
results in Poverty.
These
are the key findings from our research
confirming the results of earlier
studies such as this
which compared the growth differentials of 30 OECD countries
over 45 years (
over 1000 data-pairs !!! )
Do
You feel more people should know this► Please
link this page or mail it to a friend
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