This post is a 2018 reprint by the Mises Institute of a speech given by the economist Ludvig Von Mises in 1950 in NYC
His forecast of what was to come is simply amazing and frightening.
Were it not for the short interlude of the Regan and Thatcher administrations the US and UK would be where the rest of Europe and much of the world are today, but judging from current economic policy proposals we seem to be on track to follow after all.
The case is made so simply and clearly that a child could get it. It would seem that naivete, wishful thinking and/or the propensity to appropriate someone else's wealth are too strong for most humans to resist.
