Old Lessons, New Students

To expect the government to prevent such fraud from ever occurring would be like wanting it to provide cushions for all the children who might fall.

via Economics in 2 Paragraphs – Mises Economics Blog.

Thus wrote Turgot, hundreds of years ago. I had never read Turgot – heck, I’d never heard of Turgot.  That’s a flaw in my education.  At least his ideas seemed familiar.

As long as people wish for the impossible, politicians will promise the impossible, and those with little insight will believe them. I do believe there is little new in human affairs. Society seems doomed to repeatedly learn all the same lessons, over and over again, and always learn the hard way.

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