#chancellor #sunak #stimuluscheck #budgetdeficit #keynes #socialism #currencydebasement #inflation #centralbanking #federalreserve #freemarket
Today I will look at the ongoing interference from governments and Central Banks around the world in the functioning of the economy. I will focus on the UK and Chancellor's Sunak announcement that the government will be borrowing almost 20% from the private sector in order to help the economy.
I will argue that this kind of policy never leads to prosperity as governments do not create wealth but only confiscate from one sector of the economy in order to give it to sectors that governments favour.
My conclusion is that fiat currency induced deficit spending by governments have never led any nation or country to the road to prosperity and that, in fact, it leads countries to ruin.
The Law by Frederic Bastiat: https://cdn.mises.org/thelaw.pdf
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