Quote of the Day: Frank Hollenbeck

From Frank Hollenbeck in today’s Mises Daily article:

“We live on a planet with a constraint called gravity. We can adapt to the law of gravity by creating innovations such as airplanes, but we cannot defy the law of gravity by jumping off a building without a parachute. The same is true in economics and of the law of scarcity. We falsely believe that somehow if government legally counterfeits intrinsically worthless paper or spends someone else’s money we will be able to upend the law of scarcity.”

2 Comments

Frank Hollenbeck April 18, 2014 Reply

that should be adapt:)

nfreiling April 18, 2014 Reply

Fixed. Thanks for pointing that out!

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