Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“In modern times, we are quick to "throw the rascals out," but it never occurs to us that rascality is imbedded in the office or that the power invested in it might make a rascal of an honest man.”     Frank Chodorov,    What Samuel Said about Solomon

October 1, 2008

Quote Of The Day

by Doug Mataconis

From the Cato Institute’s Daniel Mitchell:

If investors put money into a well-run company, they can increase their wealth. But if they put their money into a poorly run firm, the opposite can happen. In other words, market forces encourage people to make smart decisions so they can prosper. But it is equally important that people bear the consequences when they make wrong choices. Capitalism without bankruptcy (or losses) is like religion without Hell.

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1 Comment

  1. It’s the “cronie-capitalism” of Japan that we so mocked during the East Asian crisis.

    Comment by freewheeler — October 1, 2008 @ 8:12 am

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