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Interest Rate Caps Keep Coming Back — Bastiat Explained Why They Fail
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Interest Rate Caps Keep Coming Back — Bastiat Explained Why They Fail
Compare this argument from President Trump on Truth Social, in January 2026, to another (perhaps the same?) made by Pierre Joseph Proudhon in 1849. I protest against your credit at five per cent, because society is able and ought to give it to me at zero per cent; and, if it refuses to do so, I accuse it, as well as you, of robbery… – Pierre Joseph Proudhon, Bastiat-Proudhon Letter #5, 1849. Some arguments, we think, have been won decisively. L…
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