Big government Quote by William F. Buckley Jr
““The individualist insists that drastic depressions are the result of credit inflation; (not excessive savings, as the Keynesians would have it) which at all times in history has been caused by direct government action or by government influence. As for aggravated unemployment, the individualist insists that it is exclusively the result of government intervention through inflation, wage rigidities, burdensome taxes, and restrictions on trade and production such as price controls and tariffs. The inflation that comes inevitably with government pump-priming soon catches up with the laborer, wipes away any real increase in his wages, discourages private investment, and sets off a new deflationary spiral which can in turn only be counteracted by more coercive and paternalistic government policies. And so it is that the "long run" is very soon a-coming, and the harmful effects of government intervention are far more durable than those that are sustained by encouraging the unhampered free market to work out its own destiny.””
About This Quote
Source Essay: “The Individualist’s View on Government Intervention” published in National Review, 1965
Government actions cause economic cycles, inflation, and unemployment, while free markets are more resilient.
In simple terms: Government interference harms economies.
Key Takeaway
Limit government’s economic role.
Themes
economics
politics
freedom
government intervention
inflation
Mood
critical
analytical
Type
political
economic
When to use this quote
- policy debates
- business planning
- investment decisions
- public discourse
Key Concepts
Keynesian critique
market dynamics
policy impact
Questions to Reflect On
- How do you balance market freedom with social safety nets?
- What evidence supports or refutes this view?
A Different Perspective
Oversimplifies complex economic factors and ignores market failures.
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