“…boom and bust cycles are caused—not by the mysterious workings of the capitalist system—but by governmental interventions in that system.” — Murray RothbardAnother way to put it is that the primary cause of what you call a recession is central banking, specifically due to their inflationism and underwriting of fractional reserve banking. If you think that inflation is the product of greedy merchants or the animal spirits, or an economy that is just too hot, or climate change, you have been hoodwinked. In the first place, it is not a product of anything. The term refers to the government’s economic and banking policies.These policies have three main effects (and many knock on effects):The Cantillon effects – redistribution of incomes and wealthInterest rate manipulation – creation of

“…boom and bust cycles are caused—not by the mysterious workings of the capitalist system—but by governmental interventions in that system.” — Murray RothbardAnother way to put it is that the primary cause of what you call a recession is central banking, specifically due to their inflationism and underwriting of fractional reserve banking. If you think that inflation is the product of greedy merchants or the animal spirits, or an economy that is just too hot, or climate change, you have been hoodwinked. In the first place, it is not a product of anything. The term refers to the government’s economic and banking policies.These policies have three main effects (and many knock on effects):The Cantillon effects – redistribution of incomes and wealthInterest rate manipulation – creation of

Much of government-owned transportation destroys rather than adds to wealth. The lack of a sound system of economic calculation is to blame.

Original Article: "The Problem with Public Transit"

A friend of mine works for the public sector, in transit specifically. When I asked him to tell me what value he saw in “public transit” for society, he replied,
You must be from the stone ages! Public transit fulfills an important function. It provides transportation for folks who can’t afford the private solutions, and also solves the problem of congestion and pollution in crowded cities. And it can do some of this better than private enterprise, especially in regard to poor people far away from jobs.
But how does the private sector work, exactly? Many people think of profit as a dirty word, something exploitive. They attach moral judgements to profit-seeking enterprises. Yet, the concept of profit, especially when combined with its corollary (loss), has a social value.
As Ludwig von