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Independent voices from the The Washington Times Communities
Topic - Ludwig Erhard
President Obama seems frustrated because he has "tried everything" to revive the economy and still it's in a slump. But as the following cases suggest, he hasn't tried the kind of policies that work.
"The eye does not see what the mind does not know." The difference between your patient's life and death, my professors would warn, is what you see, and you cannot see what you do not know. Barack Obama cannot see a way out of America's current economic malaise. He should ask the Germans what they know.
He explained that by holding prices below market levels, price controls simultaneously encouraged consumers to demand more and entrepreneurs to produce less, causing shortages.
Erhard replied, "Don't listen to them, General. My advisers tell me the same thing."