Laissez faire

The Myth that Laissez Faire Is Responsible for Our Present Crisis

Professor George Reisman contributes the excellent (and lengthy) article The Myth that Laissez Faire Is Responsible for Our Present Crisis. I've had the distinct honor of attending a number of Professor Reisman's lectures at the Ludwig von Mises Institute, and I'm slowly working my way through his monumental book Capitalism: A Treatise on Economics. Here's a few excerpts from this article: "Laissez-faire capitalism is a politico-economic system based on private ownership of the means of production and in which the powers of the state are limited to the protection of the individual's rights against the initiation of physical force." Then…
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