Wednesday, October 1, 2008

A Roepkean in the House

Liberty vs. Leviathan quotes self-described "Röpke guy" Congressman Thaddeus McCotter (R - MI), "who so forcefully challenged the bailout bill," referencing the great economist — Röpke in DC:
    I think that the argument that is made is probably because, as Roepke pointed out, people seem to think that inflationary periods are quite pleasurable until they realize that there’s a deflationary period to match it when the market corrects itself. Plus, the more government under the Keynes model has a role within people’s economic lives, the more important government is, the more powerful it is. In short, you’re asking people to refrain from using their publicly entrusted subservient positions, as members of Congress or members of the government, from interfering in a marketplace to make themselves popular for a short period of time.
Here is a compilation of my past posts referencing the great Wilhelm Röpke, about whom enough cannot be said:

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