The Phaserl


Inequality and the Central Bank

by James E. Miller, Mises:

Back in 2011, the Broadbent Institute was founded by Ed Broadbent, former leader of the New Democratic Party. The agency’s stated mission is to promote “democratic principles for the 21st century” along with “proposals for a more equal society.” Though Broadbent attests to his faith in the “competitive market economy,” his love for compulsory unionization, socialized health care, and entitlement pensions for government parasites leave him at odds with laissez faire. As a former politician, it’s obvious where his values originated. Without the state keeping a firm grasp on industry, it loses all usefulness.

In one of the Institute’s latest missives, the dreaded bogeyman of inequality is invoked. Per usual, this is an easy target. Inciting envy is a simple way to appeal to a majority. Populism, for all its angst centered on being ripped off, is a dangerous elixir to wield.

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