“The modern welfare state, highly touted as soaking the rich to subsidize the poor, does no such thing. In fact, soaking the rich would have disastrous effects, not just for the rich but for the poor and middle classes themselves. For it is the rich who provide a proportionately greater amount of saving, investment capital, entrepreneurial foresight, and financing of technological innovation that has brought the Unites States to by far the highest standard of living - for the mass of the people - of any country in history.”
Quote by Murray Rothbard
Author
Murray Rothbard
Murray Rothbard was a renowned economist known for his profound understanding and advocacy of free-market economics. He had extensive research and contributions in the fields of economics, political philosophy, and history. more
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