criminal ignorance versus criminal knowledge
December 3, 2005 2 Comments
Jimmy Carter seems to be as criminally ignorant of economic law today as he was in the 1970s. Good intentions will kill us all.
Richard Nixon, on the other hand (whose fascist economics Rothbard addresses in the interview) had a bunch of Chicago School advisors, including Milton Friedman, telling him not to do what he then did. I’ll post a little later on what Rothbard has to say on the Friedmanites, but one thing is clear: they know the perils of microeconomic centralization, price controls, minimum wage laws, etc.
This means Nixon was perfectly aware of the devastating effects his policies would inevitably have. But they won him re-election, which was apparently what mattered.
When I was growing up, Richard Nixon was the icon of all things evil. (This was before Ronald Reagan became the icon of all things evil.) How is it, then, that I knew nothing of the economic devastation the Nixon administration wrecked on the country? The most obvious answer is that I was raised and schooled on the Left, which has strong anti-fascist rhetoric, but no real problem with fascist economics.