Quote note (#131)

Mises in prophetic mode:

The course of events in the past thirty years shows a continuous, although sometimes interrupted progress toward the establishment in this country of socialism of the British and German pattern. The United States embarked later than these two other countries upon this decline and is today still farther away from its end. But if the trend of this policy will not change, the final result will only in accidental and negligible points differ from what happened in the England of Attlee and in the Germany of Hitler. The middle-of-the-road policy is not an economic system that can last. It is a method for the realization of socialism by installments.

If the test of prophecy is that it ages well, this one is doing fine.

November 17, 2014admin 6 Comments »
FILED UNDER :Political economy

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