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Top 10 Steve Hanke Quotes

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10

Since the end of the 1970s, free-market capitalism has been in, and socialism has been out.

9

It turns out that the rich are much better placed to feed at the public trough. The poor get crumbs.

8

During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long as inflation remains at or below its target level, the Fed's modus operandi is to panic at the sight of real or perceived economic trouble and provide emergency relief.

7

With interest rates artificially low, consumers reduce savings in favor of consumption, and entrepreneurs increase their rates of investment spending.

6

Trade balances are determined by national savings propensities, not exchange rates.

5

Until the Fed dumps inflation targeting and the U.S. abandons its weak-dollar policy, inflation will rule the day.

4

When the dollar goes down relative to other currencies, the price of wheat, corn, rice and oil all go up in dollar terms.

3

Government buffer-stock schemes are rife with politics, and instead of generating profits from buying low and selling high, they tend to generate losses.

2

Let the market, not politicians, determine the flow of rice, oil and other commodities. Lower, more stable prices will ensue.

1

Why is it so hard for the IMF and the U.S. government to understand that putting out the fire comes before fireproofing the building?

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