"The essential flaw of so-called supply-side economics — the policy both of the Reagan administration and of the present Bush administration — was the failure to face up to the need to reduce government spending."
Here Rothbard deals with the pure rate of interest, as determined by time preference. It's a ratio of prices between present and future goods. The interest rate is equal to the rate of price spread in the various stages of production. It pervades all time markets.
Even simple people will discover that Keynes did not teach us how to perform the "miracle ... of turning a stone into bread," but the not at all miraculous procedure of eating the seed corn.
From “Capitalism the Creator: The Mises Circle in Seattle,” a Curt and Allora Doolittle Seminar. Recorded 17 May 2008.
The US House of Representatives will hold hearings on energy markets trying to determine who is causing oil prices to rise.
Let’s pull this sentence out of the civic pieties of our time and see what’s wrong with it: “We should all volunteer our time in
In the context of the recent spike in oil prices, this clip from Glenn Beck show might be of interest to some.
Brian Wesbury, chief economist at First Trust Advisors, offers in th
