February 1, 2011 Reading Time: < 1 minute

“For 98 years the federal government has been attempting to prevent asset bubbles, recessions, and spasms of unemployment. In 1913, Woodrow Wilson created the Federal Reserve System, telling the country that this new institution would be “a safeguard against business depressions.” In 1929, with the Fed in operation for 15 years, the United States plunged into a deep depression.” Read more

“Can Government Manage the Economy?” 
James L. Payne 
The Freeman, February 1, 2011. 
Via the Foundation for Economic Education

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