"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Subjective Value and Government Intervention
"The doctrine that all value is subjective raises some important issues. It appears to create a bias against government intervention. Therefore it may explain the correlation between the methodological outlook of Austrian economists and their typically libertarian policy orientation. Put another way, do non-Austrian economists believe that value can be calculated objectively, and are such calculations important for interventionist policies?"
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