Thursday, January 7, 2010

Unions And The Free Market

From Friedrich Hayek himself. Talking in an old TV interview about how unions are detrimental to a free market society.



Added because it's Hayek related

It's on! Keynes VS. Hayek.

Without the Keynesian public policy initiatives, the economy would not have become supercharged from 2002 until 2007, the credit crisis would not have occurred and the nation’s growth during the next decade would be higher and more stable.

You will never hear this discussed in our congressional hearings—they will be busy bashing business leaders in the private sector.

Hayek would say, “Just leave it alone and the economy will do fine.”

Keynes would say, “Intervention by government is essential to avoid disasters.”

The Achilles heel in Keynes’s thinking was the assumption of wise governance.

I clipped this from the second page of the article but be sure to read the whole thing.

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