Mises Daily
Author:
Garet Garrett
Online Publish Date:
From Garet Garrett’s analysis of The New Deal, known today as The Revolution Was and Ex-America : [T]he perfect welfare state must in the end ration the national income, and, when it does that, money comes to be like coupons in a wartime ration book. At first, however, the government must borrow heavily. In order to transfer wealth from the few to