Writes Tim Wangelin:

In 1990 my Macroeconomics 101 professor told a story to my class about when he used to work at Ohio State. He said every term, Woody Hayes would make a trip from the athletic building to the academic building. Three hours later after leaving the academic building, all of his players had passing grades.

P.S. It was during this class that I first thought to myself that there is something not right about bathtub economics. It wasn’t until 15 years later, after studying Austrian economics in depth, that I fully understood why it wasn’t right.

The Best of Llewellyn H. Rockwell, Jr.