"The leviathan state is the great enemy of American prosperity, the monster that devours wealth. Every bit of economic growth that we experience is due not to the presence of this leviathan, but to the ingenuity of American enterprise in getting around the barriers.To understand how this works, imagine the US economy as a car on a racetrack. Private enterprise, in addition to building the car, provides the fuel, maintenance, and technical innovations that make it run. The government, meanwhile, is in charge of the track, and it puts tacks on the road, increases the sharpness of the turns, and adds speed bumps, as it burns with envy.
In order to keep the car traveling forward at a fast rate, private enterprise has to innovate constantly, adding horsepower, tack-proof tires, and drivers that are ever-more skilled. Private enterprise can never rest in its efforts to overcome the ever-intensifying demands on the car and driver. All the while the Federal Reserve stands by to tempt the car's crew with engine-destroying fuel available at zero price."
Read this fantastic, if cynical, article by Lew Rockwell at Mises.org.
Eric Sharp,
Regular Columnist, THL
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