Keynesian Myths, Monetary Central Planning and The Triumph of The Warfare State

David Stockman reports:

This liberal international economic order—that is, honest money, relatively free trade, rising international capital flows and rapidly growing global economic integration—-resulted in a 40-year span between 1870 and 1914 of rising living standards, stable prices, massive capital investment and prolific technological progress that was never equaled—either before or since.

No central bank, no income tax. Amazing what you can achieve with laissez-faire.