Economics professor George Reisman has written a stupendous article counterattacking against the Pravda-like bit of disinformation that our current debacle is due to “laissez-faire capitalism.” In fact, I’m tempted to call this the definitive refutation of that idea, much as one might refer to, oh, Carlos Kleiber’s recording as the definitive Beethoven Fifth.

I’m particularly pleased with it because Professor Reisman also assigns the lion’s share of the blame to the Fed and its attempts to create capital out of nothing.