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 | George F. Smith - Barbarous Relic |
Thomas Paine, Liberty's Hated Torchbearer  |
| When Thomas Paine's ship pulled into Baltimore harbor on October 30, 1802, a large gathering of friends and admirers were waiting at dockside to welcome him back. Others stood by as well, some filled with loathing, merely to observe a famous figure.Saturday, February 13, 2021 |
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 | Tom DiLorenzo |
Frederic Bastiat (1801-1850): Between the French and Marginalist Revolutions  |
| CLAUDE FREDERIC BASTIAT was a French economist, legislator, and writer who championed private property, free markets, and limited government. Perhaps the main underlying theme ofBastiat's writings was that the free market was inherently a source of "economic harmony" among individuals, as long as government was restricted to the function of protecting the lives, liberties, and property of citizens from theft or aggression.Thursday, February 4, 2021 |
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 | Lew Rockwell |
 What Should Freedom Lovers Do |
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How can one combine professional life with the advancement of liberty? Of course it is presumptuous to offer a definitive answer since all jobs and careers in the market economy are subject to the forces of the division of labor.Because a person focuses on one task doesn't mean that he or she isn't great at many tasks; it means only that the highest productive gains for everyone come from dividing tasks up among many people of a wide range of talents.Thursday, October 15, 2020 |
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| Lew Rockwell |
 The Fascist Threat  |
| Everyone knows that the term fascist is a pejorative, often used to describe any political position a speaker doesn’t like. There isn’t anyone around who is willing to stand up and say: "I’m a fascist; I think fascism is a great social and economic system."
But I submit that if they were honest, the vast majority of politicians, intellectuals, and political activists would have to say just that.Wednesday, October 7, 2020 |
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 | Alasdair Macleod - Finance and Eco. |
| The fiat money quantity (FMQ) |
| Summary : This paper seeks to establish a measure of currency quantity that helps economists identify and estimate the risk that confidence in fiat currencies might be significantly eroded or even vanish altogether. It is this phenomenon that was referred to in the great European currency inflations of the 1920s as Katastrophenhausse, or a crack-up boom, when ordinary people lose all confidence in a fiat currency, disposing of it as rapidly as possible instead preferring ownership of goods.This isThursday, September 17, 2020 |
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| Lew Rockwell |
| John Maynard Keynes, Immoralist |
| John Maynard Keynes was born in 1883 and died in 1946. Henry Hazlitt was born in 1894, eleven years after Keynes, and lived much longer, until 1993. Their lives and loyalties are a study in contrast, and mostly of choices born of internal conviction, in Hazlitt's case, or lack thereof, Keynes's case.Monday, September 7, 2020 |
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| Lew Rockwell |
 The Libertarian Paradox |
| As libertarians attempt to persuade others of their position, they encounter an interesting paradox. On the one hand, the libertarian message is simple. It involves moral premises and intuitions that in principle are shared by virtually everyone, including children. Do not hurt anyone. Do not steal from anyone. Mind your own business.
A child will say, “I had it first.” There is an intuitive sense according to which the first user of a previously unowned good holds moral priority over latecomersMonday, August 24, 2020 |
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 | Nathan Lewis - New World Economics |
| Blame Gold |
| We have been talking about The Midas Paradox (2015), by Scott Sumner.
July 23, 2017: The Midas Paradox (2015), by Scott Sumner.
As you probably guessed from the three-word title, the book can be summarized in two words, which are: “blame gold.”
This, as we have seen, is actually a relatively new notion, even if it enjoys some popularity today. The general consensus, which later (after 1950) became the Keynesian consensus, did not blame gold, or indeed, monetary policy in general, for the Great DFriday, July 3, 2020 |
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| Tom DiLorenzo - lewRockwell |
| The American Religion of Violence |
| Laurence Vance has coined the word “warvangelical” to describe so-called evangelical Christians who are obsessed with supporting all of the state’s wars and all of the death, destruction, and mayhem that they entail. They ignore the ancient just war tradition of St. Thomas Aquinas, among others, and simply support all war and all military aggression – as long as the U.S. government is the aggressor.
These are the people who booed at Ron Paul when he reminded them at one of their conventions thaWednesday, July 1, 2020 |
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 | Frank Shostak |
 Why Wage Growth Is So Weak  |
| The yearly growth rate of average hourly earnings in production and non-supervisory employment in the private sector eased to 2.3% in June from 2.4% in May.Many experts are puzzled by the subdued increase in workers earnings. After all, it is held the US economy has been in an expansionary phase for quite some time now.
Softer real output growth important reason why hourly earnings remain under pressureAccording to the US Government’s own data, since 2000, in terms of industrial productiFriday, June 19, 2020 |
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| George F. Smith - Barbarous Relic |
| Who said it, when and where |
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Over the years I've accumulated a long list of quotes about money and banking extracted from online articles and books I've read.Unlike most other sites that post pithy remarks from famous authors, I include hyperlinks to their sources, so that anyone who wishes can not only verifya quote but, perhaps more importantly, read the context in which it was used.Wednesday, May 20, 2020 |
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 | Charleston Voice |
| "Royal Charlie": 1837 Song for Hard Times Still Sings True Today, 176 years later |
| History Repeating because "...the people are too damn dumb" ~~ Harry Hopkins, FDR's alter ego and architect of the CFR
Sound money patriots will be endeared with this one - song of the masses who've discovered they've become serfs under the bankers, corporations and their legislators! This is the ferocious battle waged by Andy Jackson for a gold standard. The banksters of that period were ordered - nationwide - by a NY banker to call in all their loans and raise interest rates on others, crippSunday, May 3, 2020 |
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 | Robert Blumen - 24hgold |
| The Myth of the Gold Supply Deficit |
| Analyses based on annual supply and demand of gold appear on a daily basis, whether posted to gold web sites or in the financial media, many of them by the most respected analysts of gold mining shares. These articles typically show an imbalance between supply and demand, suggesting that there is a gold supply deficit. From there, the conclusion follows that a much higher gold price is required in order to bring supply and demand into balance.Friday, March 27, 2020 |
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| Frank Shostak |
| Will the Data Tell Us When the Next Bust Is Due |
| Most economists are of the view that by means of economic indicators it is possible to identify early warning signs regarding an upcoming recession or prosperity. What is the rationale behind this approach?The National Bureau of Economic Research introduced the economic indicators approach in the 1930’s. A research team led by W.C. Mitchell and Arthur F. Burns studied about 487 economic data to ascertain the mystery of the business cycle. According to Mitchell and Burns,Business cycles are a typTuesday, February 27, 2018 |
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 | Nelson Hultberg - AFR.org |
| The New World Order |
| “Countless people will hate the New World Order and will die protesting against it.” – H.G. Wells, The New World Order (1939).
“You shall have one world government, whether you like it or not, by consent or by conquest.” – James Warburg, Former Aide to Franklin D. Roosevelt in testimony before the U.S. Senate Foreign Relations Committee, February 17, 1950.
“We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order.” – DaWednesday, February 7, 2018 |
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| Frank Shostak |
| Why Good Economics Requires Good Theory |
| It is generally held that by means of statistical and mathematical methods one can organize historical data into a useful body of information, which in turn can serve as the basis for the assessments of the state of the economy. It is also held that the knowledge secured from the assessment of the data is likely to be of a tentative nature since it is not possible to know the true nature of the facts of reality.Some economists such as Milton Friedman held that since it is not possible to establiTuesday, February 6, 2018 |
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| Nelson Hultberg - AFR.org |
| The Coming New World Order |
| “You shall have one world government, whether you like it or not, by consent or by conquest.” – James Warburg, Former Aide to Franklin D. Roosevelt in testimony before the U.S. Senate Foreign Relations Committee, February 17, 1950.
“We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order.” – David Rockefeller, U.N. dinner, New York City, Sept 23, 1994.
With the arrival of the 20th century, the authoritarian ideologiesMonday, February 5, 2018 |
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| Frank Shostak |
| Why Perfect Competition Is not So Perfect |
| According to the popular view, a proper competitive environment must emulate the perfect competition model.In the world of perfect competition, a market is characterized by the following features:There are many buyers and sellers on the marketHomogeneous products are tradedBuyers and sellers are perfectly informedThere are no obstacles or barriers to enter the marketMoreover, buyers and sellers have no control over the price of the product. They are price takers.No Room for EntrepreneursThe assuFriday, February 2, 2018 |
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| Frank Shostak |
| Falling Prices Are a Good Thing |
| There is nothing wrong with declining prices. What signifies industrial market economy under a commodity money such as gold is that prices of goods follow a declining trend.According to Joseph Salerno,In fact, historically, the natural tendency in the industrial market economy under a commodity money such as gold has been for general prices to persistently decline as ongoing capital accumulation and advances in industrial techniques led to a continual expansion in the supplies of goods. Thus thrTuesday, January 16, 2018 |
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