There's No Free Lunch And No Free Economy
Date Added: March 02, 2009 03:11:53 AM
Sovereign is he who decides whether there is a state of emergency," wrote the German legal philosopher Carl Schmitt in 1922, on the eve of the Weimar Republic's great economic crisis. Authorities that can be bypassed in times of stress are not real authorities. Laws that are suspended when push comes to shove are not real laws. Whether this is true in all places and times, it is true for those Americans who believed, up until this week, that they were living in a capitalist country. Having been lectured that there is no such thing as a free lunch, they are coming to suspect that there is now no such thing as a free economy, either.
Source: The Financial Express