I interrupt this blogging hiatus to bring you the following news flash: THE PROBLEM IS NOT THE FREE MARKET!
Dominic Lawson explains that it all went wrong when we left the gold standard: "Mises' followers insist that the present problems in the economies of the West have not been caused by laissez-faire, but by the opposite: politically sensitive central bankers so desperate to prevent any stock market slump that they cut interest rates to a level which turbo-charged the debt markets. So when George Osborne, as he did yesterday, declares that "laissez-faire is dead", the Mises-ites – one of whom is the libertarian Presidential candidate, Congressman Ron Paul – would protest that such a policy was never tried in the first place."
What got us into this mess?
Hat tip: The Young Fogey