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The dreams of "leaving it up to the market" or of returning to a politically neutral gold standard cannot succeed because the nature of the monetary system has a profound impact on the interests of powerful groups and states. Affected groups and states will always try to intervene in the operation of the system to make it serve their interests.
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Alexander Hamilton
It may be laid down as a general rule, that their confidence in and obedience to a government, will be commonly proportioned to the goodness or badness of its administration. . . . Various reasons have been suggested in the course of these papers, to induce a probability that the general government will be better administered than the particular governments.
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