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Quotation of the Day…

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… is from page 50 of UCLA economist William Allen’s marvelous 1989 collection of the transcripts of his radio addresses, The Midnight Economist [2]; specifically, it’s from Allen’s August 1985 radio address entitled “Ideology, Economics, and Survival” (original emphasis):

If we are not physically overrun by barbarians, what will destroy us?  Not learned quibbles on the nuances of what the Founding Fathers really meant.  Rather, we will ruin ourselves with minimum wage and comparable worth laws; with controls on prices of goods, apartments, and loans; with erratic changes in the price level; with government domination through the budget, environmental regulation, and antitrust intrusions; with progressive attenuation of property rights; with subsidization of inefficiency and sloth and divisiveness….

Free men require free markets.  If we lose the battle of economic freedom, we lose the entire war.

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