There's a place where the light won't find you
Holding hands while the wall come tumbling down
When they do
I'll be right behind you
--Tears for Fears
As Cypriot legislators cobble together capital controls ahead of the weekend, I am reminded of the ever increasing force applied by governments seeking to stabilize an unstable system.
The system slips. Government applies force seeking to regain control. This causes the system to slip further, which invites more government force.
A classic reinforcing loop with a chaos endpoint. As Mises aptly observed.
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We pay too little attention to the reserve power of the people to take care of themselves. We are too solicitous for government intervention, on the theory, first, that the people themselves are helpless, and second, that the government has superior capacity for action. Often times both of these conclusions are wrong.
~Calvin Coolidge
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