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The Rule of Law

Please note: this post was written at my request by Michael Dowsett, after yet another European policy which breached the Rule of Law, as classically understood. – Steve The rule of law is a phrase which is widely used but perhaps little understood. Far from being merely the sum total of all the laws passed by a particular central or local administration plus courts to enforce them, the term ‘the rule of law’ draws on a higher concept of laws […]

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What Is Money? – Frederic Bastiat – Mises Daily

Anyone could do wonders if he could contrive to overcome all resisting influences, and if all mankind would consent to become soft wax in his fingers; but men are resolved not to be soft wax; they listen, applaud, or reject and — go on as before. via What Is Money? – Frederic Bastiat – Mises Daily.

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European Union economic governance

I spoke last night in the European Union (Amendment) Act debate: Steve Baker (Wycombe) (Con): First, I wish to associate myself with the remarks of my hon. Friend the Member for Harwich and North Essex (Mr Jenkin). Too often when addressing questions such as the one under discussion we get bogged down either in procedural matters or matters that verge on the nationalistic, but this evening he has transcended that old territory and talked about what is good for the UK […]

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Thought for the day – Bastiat

From Bastiat’s dialogue What is Money? B. I have not yet made up my mind that your views upon money and political economy in general are correct. But, from your conversation, this is what I have gathered: — That these questions are of the highest importance; for peace or war, order or anarchy, the union or the antagonism of citizens, are at the root of the answer to them. How is it that in France and most other countries which […]

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Bastiat – The State

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This post originally appeared at The Cobden Centre. In the course of things, I had cause to quote Bastiat, a French classical liberal theorist, political economist, and member of the French assembly: “The state is the great fiction by which everyone seeks to live at the expense of everyone else.” This prompted me to dig out the original essay. As the UK’s national debt doubles and after a period within which QE was used, creating space in the market for […]

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Credit – Frederic Bastiat – Mises Institute

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Via the Mises Institute, a little Bastiat demonstrating how little is new under the sun: In all times, but more especially of late years, attempts have been made to extend wealth by the extension of credit. I believe it is no exaggeration to say, that since the revolution of February, the Parisian presses have issued more than 10,000 pamphlets, crying up this solution of the social problem. The only basis, alas, of this solution, is an optical delusion — if, indeed, […]

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