I Am Convinced That The Minimum-wage Law

The Argument For Collectivism Is Simple; Free Market Is Not.

We Had Much Freer Trade In The 19th Century. We Have Much Less Globalization Now Than We Did Then.

The Federal Reserve The Privately Owned U.s. Central Bank Definitely Caused The Great Depression By Contracting The Amount Of Currency In Circulation By One Third From 1929 To 1933.

The Fed Was Largely Responsible For Converting What Might Have Been A Garden-variety Recession, Although Perhaps A Fairly Severe One, Into A Major Catastrophe. Instead Of Using Its Powers To Offset The Depression, It Presided Over A Decline In The Quantity Of Money By One-third From 1929 To 1933 ... Far From The Depression Being A Failure Of The Free-enterprise System, It Was A Tragic Failure Of Government.

The True Test Of Any Scholar's Work Is Not What His Contemporaries Say, But What Happens To His Work In The Next 25 Or 50 Years. And The Thing That I Will Really Be Proud Of Is If Some Of The Work I Have Done Is Still Cited In The Text Books Long After I Am Gone.