F. A. Hayek – ThisIsCommonSense.org

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“…I very much doubt whether monetary policy has ever done anything good….”

F. A. Hayek, Cato Policy Report, from an interview conducted by James U. Blanchard III

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Thought of the Day

Sympathy which, a generation ago, was taking the shape of justice, is relapsing into the shape of generosity; and the generosity is exercised by inflicting injustice. Daily legislation betrays little anxiety that each shall have that which belongs to him, but great anxiety that he shall have that which belongs to somebody else. For while no energy is expended in so reforming our judicial administration that everyone may obtain and enjoy all he has earned, great energy is shown in providing for him and others benefits which they have not earned. Along with that miserable laissez-faire which calmly looks on while men ruin themselves in trying to enforce by law their equitable claims, there goes activity in supplying them, at other men’s cost, with gratis novel-reading!
Herbert Spencer, Principles of Ethics, Vol. 2, Part IV: “Justice” (1891), Chapter 5, “The Idea of Justice.”

— Herbert Spencer

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