Thomas Woods
Thomas Woods
Thomas Ernest "Tom" Woods, Jr.is an American historian, political analyst, and author. Woods is a New York Times best-selling author and has published twelve books. He has written extensively on the subjects of American historical fiction, contemporary politics, and economics. Woods identifies as a paleoconservative and a proponent of the Austrian school of economics...
NationalityAmerican
ProfessionReligious Author
Date of Birth1 August 1972
CountryUnited States of America
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The Emergency Banking Act reached back in time to amend the Trading with the Enemy Act of 1917, which had originally been intended to criminalize economic intercourse between American citizens and declared enemies of the United States.
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Understanding the true causes of the Depression, as well as the real economic record of the United States in the 1930s, is an essential ingredient in anyone's economic and historical education.
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Discussions of the economy, especially during times of crisis, are often framed in terms of lessons we supposedly learned during the Depression of the 1930s. If we are not to endure terrible times like those again, we are told, we must support whatever form of state intervention is currently being peddled.
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One of the market's virtues, and the reason it enables so much peaceful interaction and cooperation among such a great variety of peoples, is that it demands of its participants only that they observe a relatively few basic principles, among them honesty, the sanctity of contracts, and respect for private property.
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Public protests against globalization - protests that occur by and large in the prosperous West - denounce free trade and the mobility of capital as instruments of exploitation and oppression.
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Communism brought out the worst in human nature and crippled people's ability or ambition to participate in a market economy.
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Keynesians think that you can take water from the deep end of the swimming, pump it into the shallow end of the swimming pool and somehow the water level of the swimming pool will rise.
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If the federal government has the exclusive right to judge the extent of its own powers, warned the Kentucky and Virginia resolutions' authors (James Madison and Thomas Jefferson, respectively), it will continue to grow - regardless of elections, the separation of powers, and other much-touted limits on government power.
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That human beings seek their own well-being and that of those close to them is not an especially provocative discovery. What is important is that this universal aspect of human nature persists no matter what economic system is in place; it merely expresses itself in different forms.