Learning About the State (mises.org)
- Highlight Loc. 21-25 | Added on Wednesday, March 07, 2012, 09:58 AM
Today, the state embodies all the worst features of the unaccountable, impersonal leviathan that had been the goal of every bad-guy political dreamer in world history. We can see this in operation during the financial meltdown. The people making the decisions and conducting policy were not elected by anyone. They report to no one. They are the Secretary of the Treasury and the head of the Fed, and each represents certain private-sector interests among the financial elite. They conduct their policies based on their private assessment of what is good for those they represent, and they do it in cooperation with the permanently entrenched bureaucracy and financial managers who rule the country.
