Tuesday, February 15, 2011

Hayek's Top 10 Do's and Don'ts in a Recession

Over at The Heritage Foundation's Foundry blog, David Azerrad has a list of top 10 do's and don'ts in a recession, as distilled from the works of F.A. Hayek by Bruce Caldwell. You should read the whole thing, of course, but here is the even shorter version.
“We usually don’t have the necessary knowledge to intervene effectively in the economy, and the political process is such that, even if we did, we still likely would get bad policy, coupled with an ever-growing government sector.”
The ever-growing government sector is a bug, not a feature.

(via Instapundit)
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