The Rejection of Personal Responsibility leads to the Submission to the Authority of the States

Much of public policy these days seems designed to eliminate personal responsibility. The widespread acceptance by intellectuals of the belief that government should play a larger role in economic and private affairs; [is] the triumph … of the philosophy of the welfare state. Friedman opined that “today, governmental measures constitute the major impediments to economic growth in the United States … What we urgently need, for both economic stability and growth is a reduction of government intervention not an increase…"

Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.