EXQUISITE ECONOMICS

An exchange market is self-regulating. Both buyer and seller are better off after every transaction because both have gained something they did not have before it took place. The spirit of economics is cooperation. The spirit of government is coercion. No nation has ever been able to effect a harmonious balance between these two opposing spheres of influence. There are more fallacies in economics than in any other area of study, and all of them have the same root cause: to focus on the immediate benefits of a policy to a single group (a) to the neglect of other groups, and (b) in ignorance of the long-term consequences to the economy as a whole. The biggest fallacy of all is the mistaken belief that government can improve the overall economy. Government has no money of its own. It can only give to some what it takes from others. Every grant, subsidy, or stimulus package is ultimately paid for by consumers as taxpayers. Every time the government manipulates the money supply or interest rates, the entire economy suffers. Government can only do good to some by harming everyone else.