Did Greenspan Deserve Another Term?
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.
(25:00)
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.
(25:00)
Profit is total revenue minus total costs. Ours is not just a profit system, it is a profit and loss system. Losses are a sign that you wasted land, labor, or capital, yet those who make profits are criticized.
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.
(29:32)
Robert Murphy explains the process of setting interest rates in a free economy. Recorded on 25 June 2003.
Recorded at the Reassessing the Presidency seminar; March 2004.
Microeconomics starts with the basic fact that each person has short term and long term goals, like buying a ham sandwich and graduating from college. People act in the world to accomplish something. Human action is purposive. You employ different means to achieve certain goals.
The Center for Responsible Lending says that payday lending is a predatory business in that it lures borrowers into a "debt trap." Mike Foley says this view is all wrong: pay-day lending provides liquidity when it is most needed, and an an opportunity to establish a positive credit history.