35 Years Ago in reason


“A bailout would not only prolong the agony and trigger rampant inflation, it would eliminate the pressures for long-overdue internal reforms, and by calling for increased taxes, would accelerate the exodus of business and middle-class residents from the city. City residents should not be forced, by higher taxes, to sacrifice for the sins of New York City politicians.”

â€"Manuel S. Klausner, “Default: Key to New York City’s Rebirth”

“Those of us who want to desocialize America should rejoice at the prospect of destroying the credit of state and local governments.”

â€"Murray N. Rothbard, “Default Now!”

“I submit that control of land use and development through public planning and regulation is akin to performing surgery by a team consisting of faith healers, exorcists, and surgeons. While the patient may not die instantly, he may well wish he had.”

â€"Bernard H. Siegan, “The Case Against Land Use Planning”

 â€"January 1976