Explaining the Economic Crisis

Robert Stewart has a wonderfully clear and succinct explanation for what brought about the economic collapse at mises.org. Unlike the predictable left-liberal voices who blame everything on capitalism and its amoral practitioners, Stewart points the blame were it belongs: to the federal government, which spent the last century telling us that spending money you don’t have is not only acceptable but even desirable, and that by market manipulation we can enjoy unlimited prosperity forever–and to us, who were dumb enough to believe it.

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