There is no free in liberty.


Sunday, August 7, 2011

The Final Sunday...


martinra (dailypundit)

If all that were needed in order to sustain a permanent state of moderate growth and prosperity were a little bit of government and central bank tugging one way on booms and the other way on busts, then Keynesianism would work fine. Keynesianism fails in the long term because the corrections are not mathematical accidents, not merely lines on the graph, but necessary events to permit new growth. The tonic of failure, of bankruptcy, and of creative destruction is necessary to clear away error, drive out incompetence and deadwood, reallocate capital towards its more effective users, and permit growth to resume. Delay the pain and you delay the healing.
Here's to the Last Day Before the Healing Begins...


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