It is wise to let adults exercise their own judgment

Markets are places of trial and, very frequently, error. Their genius is not perfect efficiency, but the rewarding of success and the weeding out of failure. No better alternative has ever presented itself.

This is a difficult time to defend free markets. Nevertheless they must be defended, not only on their matchless record when it comes to raising living standards, but on the maxim that it is wise to let adults exercise their own judgment.

Market freedom is not a “fundamentalist religion”. It is a mechanism, not an ideology, and one that has proved its value again and again over the past 200 years.

Bailouts

Bailouts are the best source of inflation.

And inflation is the best poverty machine.

Recession

The crueler an economic recession is the sooner it will be over.

Let the markets solve the problem.

The best recipe for poverty

Government never know where jobs will come from.

Jobs depend not on government but upon satisfying customers.

Aversion to competition and international trade is the best recipe for poverty.