Monetary Theory

If the government reduces both taxes and spending, it will leave more money in private hands.

In order to keep up the appearances of prosperity, government spending must be constantly increased, with an ever-increasing share of total production going to the nonproductive.

"The key thing is that the price of producer goods has to fall faster and farther than consumer goods for the correction process to proceed."

The Fed has essentially created the biggest shipment of currency ever, but the crippled banking system hasn't yet delivered it to our prison camp. When it arrives, it might be handy to have some spare smokes around to trade with.

By piling on trillions to the national debt, the government will have to keep interest rates low for a longer period, promoting ever-greater debt. The result of this must be unsustainably higher levels of debt — and the worst financial crisis ever seen in the history of mankind.

Recorded at Mises University 2009.

Recorded at Mises University 2009.

Recorded at Mises University 2009.

Recorded at Mises University 2009.

Almost invariably, furthermore, the union is not trying to discover the market rate, but to impose various arbitrary "principles" of wage determination, such as "keeping up with the cost of living," a "living wage," the "going rate" for comparable labor in other firms or industries, an annual average "productivity" increase, "fair differentials," and so forth.