Ulrich Fromy

EU Central Bank President Christine Lagarde has declared that anything that might lead to private currencies must be stopped. Yet, as F.A. Hayek noted, one way to confound central banks is through private currencies.

Frederic Bastiat understood better than most how free markets and market prices actually promote social harmony. And unlike most, he understood why Paris, which had little agricultural land, had plenty of food for its inhabitants.

France is facing critical shortages of a number of drugs, and one need look no further for a cause than a price control regime. Naturally, the French media and government blame capitalism and look to double down on the intervention that has causes this crisis.