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Communism brought out the worst in human nature and crippled people's ability or ambition to participate in a market economy.
Thomas Woods / Historian
Ambition
Communism
Crippled
Human Nature
Market Economy
Participate
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Government has a habit of blaming the private sector for its own failings while taking credit for advances we in fact owe to the private sector.
Thomas Woods / Historian
Government
Credit
Facts
Habit
Private Sector
Advances
Blaming
Fact
Failings
In Fact
Owe
Private
Sector
Taking
While
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The power to regulate the value of money does not involve a power to dilute the value of money by inflation, an absurd and self-serving rendering.
Thomas Woods / Historian
Absurd
Doe
Inflation
Rendering
Self
Self Serving
Involve
Regulate
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If the Tenth Amendment were still taken seriously, most of the federal government's present activities would not exist. That's why no one in Washington ever mentions it.
Thomas Woods / Historian
Government
Liberty
Taken
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Keynesians think that you can take water from the deep end of the swimming, pump it into the shallow end of the swimming pool and somehow the water level of the swimming pool will rise.
Thomas Woods / Historian
Swimming
Thinking
Water
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Public protests against globalization - protests that occur by and large in the prosperous West - denounce free trade and the mobility of capital as instruments of exploitation and oppression.
Thomas Woods / Historian
Exploitation
Free Trade
Globalization
Instruments
Mobility
Oppression
Prosperous
Capital
Denounce
Occur
Protests
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Understanding the true causes of the Depression, as well as the real economic record of the United States in the 1930s, is an essential ingredient in anyone's economic and historical education.
Thomas Woods / Historian
Causes
Essential
Ingredient
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There are only two (major) parties today: The Stupid Party and The Evil Party. Once in a while the two parties get together to do something that is both stupid and evil, and that's called Bipartisanship.
Thomas Woods / Historian
Government
Party
Stupid
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Nullification is the Jeffersonian idea that the states of the American Union must judge the constitutionality of the acts of their agent, the federal government, since no impartial arbiter between them exists.
Thomas Woods / Historian
Government
Arbiter
Federal Government
Ideas
Judging
Acts
Agent
Judge
Exists
Impartial
Union
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The Emergency Banking Act reached back in time to amend the Trading with the Enemy Act of 1917, which had originally been intended to criminalize economic intercourse between American citizens and declared enemies of the United States.
Thomas Woods / Historian
American Citizens
Banking
Citizens
Enemy
Trading
Amend
Criminalize
Emergency
Enemies
Intended
Originally
Reached
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Libertarianism is 'cultish,' say the sophisticates. Of course, there's nothing cultish at all about allegiance to the state, with its flags, its songs, its mass murders, its little children saluting and paying homage to pictures of their dear leaders on the wall, etc.
Thomas Woods / Historian
Children
Song
Wall
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That human beings seek their own well-being and that of those close to them is not an especially provocative discovery. What is important is that this universal aspect of human nature persists no matter what economic system is in place; it merely expresses itself in different forms.
Thomas Woods / Historian
Aspect
Discovery
Human Nature
Provocative
Universal
Well Being
Forms
Economic System
Expresses
Seek
Merely
Persists
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Discussions of the economy, especially during times of crisis, are often framed in terms of lessons we supposedly learned during the Depression of the 1930s. If we are not to endure terrible times like those again, we are told, we must support whatever form of state intervention is currently being peddled.
Thomas Woods / Historian
Depression
Crisis
Economy
Endure
Framed
Intervention
Lessons
Support
Currently
Discussions
Terms
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One of the market's virtues, and the reason it enables so much peaceful interaction and cooperation among such a great variety of peoples, is that it demands of its participants only that they observe a relatively few basic principles, among them honesty, the sanctity of contracts, and respect for private property.
Thomas Woods / Historian
Basic Principles
Contracts
Cooperation
Honesty
Interaction
Participants
Peaceful
Principles
Private Property
Sanctity
Variety
Enables
Virtues
Observe
Relatively
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If the federal government has the exclusive right to judge the extent of its own powers, warned the Kentucky and Virginia resolutions' authors (James Madison and Thomas Jefferson, respectively), it will continue to grow - regardless of elections, the separation of powers, and other much-touted limits on government power.
Thomas Woods / Historian
Government
Kentucky
Virginia
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