Tangible Ideas – Goodbye to All That » The Cobden Centre

Via Tangible Ideas – Goodbye to All That » The Cobden Centre, Sean Corrigan explains the end of an economic era:

The sheer violence of this reversal of fortune — something akin to the sudden, mortal swoop of a melted-wax Icarus after long hours of patiently spiralling heavenward on the thermals rising off the Cretan coast — has perplexed everyone from Her Britannic Majesty and her hapless First Minister to the fallen idols of investment practice, like Bill Miller and Bruce Bent – yet while its pattern may be a complex tangle of circumstances, there are, in truth, only a few basic threads in the weave, all of them very familiar to those with an Austrian perspective on the case: fiat money, gross government interference with markets, and the avid, rent-grubbing irresponsibility it fosters in everyone involved …

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