Billy Foster, PhD

Billy Foster

Clinical Assistant Professor of Economics at

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Quotations

Adam Smith long ago taught us the difference between being pro-business and pro-free-market. Pro-business or corporatism means easy money, protection from competition, and bailouts at taxpayer expense. Pro-free-market means businesses are on their own in a competitive environment trying to serve consumers. We need to reject corporatism and embrace the free market. — Sheldon Richman, The Most Dangerous Derivative (2011)

Posts Tagged ‘austrian economics’

In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis.