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Whose Planning?

Many overseers and regulators in Washington D. C. are blaming the current financial crisis on "deregulation" and "laissez faire".   Don Boudreaux at Cafe Hayek has recently observed that:
"To blame this crisis on laissez faire is akin to blaming the death of a heroin junkie on exercise, eating right, and sobriety."

The call for controls and planning by these same regulators ignores the lessons learned from past crises succinctly analyzed and commented upon by Ludwig von Mises more than fifty years ago when he said:

"The truth is that the choice is not between a dead mechanism and a rigid automatism on the one hand and conscious planning on the other hand.   The alternative is not plan or no plan.  The question is: whose planning?  Should each member of society plan for himself or should the paternal government alone plan for all?  The issue is ... spontaneous action of each individual versus the exclusive action of the government."  (Planning for Freedom, p. 45)


Planning for Freedom and other essays and addresses by Ludwig von Mises.  Libertarian Press, 1962.



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