Economics for the Long Run- Wall Street Journal

Česky: Oficiální portrét amerického prezidenta...

President Ronald Reagan

In this short article by Stanford Economics professor and senior fellow John Taylor it’s correctly pointed out that continuous short-term government intervention in the economy produces more bad than good, no matter the intentions, and no matter what party is in the White House. These policies have been most effectively and dramatically illustrated by Ronald Reagan, and continued with Presidents George H.W. Bush and Bill Clinton.

http://online.wsj.com/article/SB10001424052970204468004577166842399752720.html

Not mentioned in the article is that these hands-off principles originally were put forth a long time ago by 18th Century Economist Adam Smith in his seminal book An Inquiry into the Nature and Causes of the Wealth of Nations, better known as “The Wealth of Nations”.

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