The "private sector" of the economy is the voluntary sector, the "public sector" is the coercive sector. – Henry Hazlitt
The "private sector" of the economy is the voluntary sector, the "public sector" is the coercive sector. – Henry Hazlitt
Bank profits are result of government regulation
Posted by Anthony Coralluzzo on 28th October 2010 4:03pm
Yet again we see the demonisation of "private enterprise" bank profits and calls for regulation, when the actual cause of the super profits is the government itself. A classic case of one government intervention leading to another. The reason Australian banks make their super profits is because they have non-market perks provided to them by government, like access to the money printing press via the Reserve Bank, and the legally enshrined ability to counterfeit. |
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