Abstract
Ever since King Canute proved that sovereignty over the waves could not prevent the Royal feet from getting wet, the futility of interfering with natural forces has been well understood. It used to be understood that the same applies to market forces:
Interest (or Rent) of mony can bee no more stated by lawes then the Rent of Lands, prices of goods, or the wages of laborers and artisans.
[Petty (1660) p.247]
The first thing to be consider’d, is, Whether the Price of the Hire of Money can be regulated by Law. And to that I think, generally speaking, one may say, ’tis manifest it cannot.
[John Locke (1691) p.1]
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© 2013 Robert Anthony Rayman
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Rayman, R.A. (2013). The Topsy-Turvy Wonderland of Single-Gear Economics. In: Toxic Economic Theory, Fraudulent Accounting Standards, and the Bankruptcy of Economic Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-137-30450-6_6
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DOI: https://doi.org/10.1007/978-1-137-30450-6_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-67150-2
Online ISBN: 978-1-137-30450-6
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