Friedrich List Quotes
Industry entirely left to itself, would soon fall to ruin, and a nation letting everything alone would commit suicide.
List, Friedrich. Outlines of American Political Economy. Samuel Parker, 1827, p. 15.
This rigid view left no room for regulation which is what almost every modern industrial democracy has chosen. To some of his extremist followers, any government regulation of business or the economy whatsoever, regardless of how little, means that the nation has embraced socialism. It is in this sense that many extreme right wingers viewed Presidents like Franklin Delano Roosevelt, Harry Truman, John Kennedy, Bill Clinton, and Barack Obama as socialists while they saw themselves as opponents of socialism.
Georg Friedrich List was a German-American economist who developed the "National System" of political economy. He was a forefather of the German historical school of economics, and argued for the German Customs Union from a Nationalist standpoint. He advocated imposing tariffs on imported goods while supporting free trade of domestic goods, and stated the cost of a tariff should be seen as an investment in a nation's future productivity.