Scientism: The New Road To Serfdom, Part 3

Carter Glass’ benign bankers’ bank was transformed into a menace by Woodrow Wilson’s war budgets, and his insistence that his misbegotten crusade to “make the world safe for democracy” be financed mainly with debt, not taxes on the voters. Accordingly, the balanced peace time budget of 1914, which posted revenues and expenses of $725 million […]