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Interventionism: An Economic Analysis

JULY 29, 2009

In this work, Mises criticizes government interference in the market: regulations, wage and price controls, tariffs, special privileges, and subsidies for some at the expense of others. He points out that although enacted with the best of intentions, such government interventions lead to conditions that even their advocates consider worse than those they were trying to alleviate in the first place. In addition, he explains how interventionism eventually gives way to socialism. Although Mises has made these arguments elsewhere, in this volume he does so especially clearly, concisely, and thoroughly.

 

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It's been 40 years since F. A. Hayek received his Nobel Prize. His insights, particularly on the distribution of knowledge and the impossibility of economic planning, remain hugely important today. In this issue, we look back on the influence of his work. Max Borders and Craig Biddle debate whether liberty must be defended from one absolute foundation, further reflections on Scottish secession, and how technology is already changing our world for the better--including how robots, despite the unease they cause, will only accelerate this process.
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