Jim Powell > Quotes

“Although the United States, with its unit banking laws, had thousands of bank failures, Canada, which permitted branch banking, didn't have a single failure during the Great Depression.”
― Jim Powell, FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression

“New Dealers always seemed to be comparing actual capitalism with ideal government. They judged capitalism by its apparent effects and government by its announced intentions”
― Jim Powell, FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression

“David Lawrence, founder of US News & World Report, warned, "Confiscation of wealth may satisfy the vengeful in us. It may sooth a retaliatory spirit. But it is the path of national suicide...There must always be the reward motive. To many people it is but another way to set goals of human ambition...When government kills the opportunity to earn, it sounds the death knell of the opportunity to serve.”
― Jim Powell, FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression

“It would be tragic if, in a future recession or depression, policymakers repeated the same mistakes of the New Deal because they knew only the political histories of the time.”
― Jim Powell, FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression

“understood. In The Tariff and the Trusts (1907), New York lawyer Franklin Pierce fumed: “We legalize conditions out of which an evil arises and then attempt to suppress the evil by penal statutes. We provide for high duties upon foreign imports for the protection of home industries, and when a monopoly controlling the home market results there-from, then pass penal laws punishing the monopoly. In this way our politicians prove to the great combinations who furnish campaign disbursements for political parties their fidelity to monopolistic interests, while, by the penal statute, they assure the people that they are against trusts….”
― Jim Powell, Bully Boy: The Truth About Theodore Roosevelt's Legacy