In the last portion of Section 4, we shall examine the effects of interventionist force on the market. We shall look at the specific effects of various kinds of wage and price controls, monetary policy, consumer regulation, slavery, conscription, taxation, trade barriers, legal monopolies, licensing policies, censorship, subsidies, antitrust law, and anti-discrimination laws. We shall come to understand why such problems as shortages, surpluses, unemployment, spiraling prices, black markets, recessions, depressions, drug-related crime, diminished productivity and prosperity, rising medical costs, inferior product quality, low educational standards, and dangerous levels of governmental debt often beset politico-economic systems such as the one that has evolved in the United States.

Although praxeology can also be used to analyze the internal dynamics of governments, such analysis must be deferred until Section 5.      Next page


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