The Marvel That Is Capitalism | Llewellyn H. Rockwell, Jr.
From "Speaking of Liberty" by Llewellyn H. Rockwell, Jr. Text of this presentation originally given as a speech before the Adam Smith Club, Campbell University, Buies Creek, North Carolina on April 4, 2002. Includes introduction by the author. http://mises.org
"Free-market economics, of which the Austrian School is the preeminent exponent, asserts that every government intervention in the market generates consequences that are deleterious for prosperity and human liberty. However much such interventions may assist one group in the short run, everyone is made worse off in the long run. Government intervention destabilizes economic life in artificial ways, and ultimately does not work to bring about the results that its proponents claim to desire. Carl Menger, the founder of the Austrian School of economics, was a firm believer in the law of cause and effect. He believed that economic affairs could be analyzed in these terms as well." ~ Llewellyn H. Rockwell, Jr.
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