Baxter's First Law:
          Government intervention in the free market always leads to a lower national standard of living.

Baxter's Second Law:
          The adoption of fractional gold reserves in a currency system always leads to depreciation, to devaluation, to demonetization, and, ultimately, to complete destruction of that currency.

Baxter's Third Law:
          In a free market, good money drives bad money out of circulation.

Robertson's Rule:
          A diplomat is someone who can tell you to go to hell in such a way that you will look forward to the trip.

Last on the Politician's Hit Parade:
          I'll never promise you a rose garden.

Karnin's First Law:
          All currencies will decrease in value and purchasing power over the long term, unless they are freely and fully convertible into gold and that gold is traded freely without restrictions of any kind.

Kamin's Second Law:
          Threat of capital controls accelerates marginal capital outflows.

Kamin's Third Law:
          Combined total taxation from all levels of government always increases (until the government is replaced by war or revolution).

Kamin's Fourth Law:
          Government inflation is always worse than statistics indicate; central bankers are biased toward inflation when the money unit is nonconvertible and without gold or silver backing.

Kamin's Fifth Law:
          Purchasing power of currency is always lost far more rapidly than it is ever regained. (Those who expect even fluctuations in both directions play a losing game).

Genthe's Law:
          Federal regulatory agencies are self-canceling.

Diogenes' First Dictrum:
          The more heavily a man is supposed to be taxed, the more power he has to escape being taxed.

Furst's Bureaucratic Byword:
          Massive expenditures obscure the evidence of bad judgments.

Glomm's Law:
          The strong take from the weak, the rich take from the poor, and the government takes from everyone.

Nowlan's Truism:
          An "acceptable level of unemployment" means that the government economist to whom it is acceptable still has a job.

Neville's Conclusion:
          There's no special reason; it's just government policy.

Jonathan Swift's Law:
          Laws are like cobwebs, which may catch small flies, but let wasps and hornets break through.

Gummidge's Law:
          The amount of expertise varies in inverse proportion to the number of statements understood by the general public.

Katz's Law:
          Men and nations will act rationally when all other possibilities have been exhausted.

Long's Axiom:
          An elephant is a mouse built to government specifications.

Lani's Principles of Economics:

1. Taxes are not levied for the benefit of the taxed.
2. One hundred dollars placed at 7 per cent interest compounded quarterly for two hundred years will increase to more than $1oo million, by which time it will be worth nothing.
3. In God we trust; all others pay cash.

McNaughton's Rule:
          Any argument worth making within a bureaucracy must capable of being expressed in a simple declarative sentence that will be obviously true once it is stated.

Dyer's Law:
          The smaller or less important the government publication, the higher the grade and salary of the editor.

Krueger's Law:
          A taxpayer is someone who doesn't have to take a civil service examination to work for the government.

Nolan's Observation:
          There is nothing so asinine that governments will not proclaim it as official doctrine.

Johnson's Laws of Bureaucratic Immobility:

1. Never do anything for the first time.
2. Pay is a function of time spent.
3. Wait until others have given clearance.
4. It is futile, so why try?
5. Make only big mistakes.