People believe that, when we demand free trade, we are motivated exclusively by the desire to allow labor and capital to take the direction most advantageous to them. Public opinion is mistaken on this point; this is merely a secondary consideration with us. What grieves us, afflicts us, horrifies us in the protectionist system is that it is the negation of law, justice, and property rights; that it turns the law, which should guarantee justice and the right to property, against them; that it both subverts and perverts the conditions under which society exists.
– Frédéric Bastiat, “Plunder and Law” [1850] |
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| June 1, 2023
What Debt Ceiling?
Statists all across the United States, especially those within the mainstream press, are uncorking their champagne bottles today and celebrating the newest deal that lifts the debt ceiling. Predictably, the political strategy of crying “Default! Default! Default!” succeeded spectacularly, just as it does every time. In fact, it worked so well that this time Congress decided to not even set a new ceiling. … |
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