Liberty Forged

the State has no money of its own, so it has no power of its own. ` Nock

Posts Tagged ‘the bailout’

“The Bailout/Economic Crisis” predicted over 150 years ago

Posted by Jesse on December 30, 2008

there are two issues — and only two — that have always endangered the public peace.

They are slavery and tariffs.

Slavery is a violation, by law, of liberty. The protective tariff is a violation, by law, of property.

It is indeed impossible to imagine, at the very heart of a society, a more astounding fact than this: The law has come to be an instrument of injustice.

there are two kinds of plunder: legal and illegal.

But how is this legal plunder to be identified? Quite simply.

See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong.

See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.

Then abolish this law without delay, for it is not only an evil itself, but also it is a fertile source for further evils because it invites reprisals. If such a law — which may be an isolated case — is not abolished immediately, it will spread, multiply, and develop into a system.

————————[mp3 available here// complete with introductory article]——————

From bastiat.org: Found on the site US History resources in the translation by Dean Russell for the Foundation for Economic Education

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