Other Schools of Thought

In order to make it easier for the central banks to embark upon credit expansion, the European governments aimed long ago at a concentration of their countries' gold reserves with the central banks.

John Calvin's social and economic views closely parallel Luther's, and there is no point in repeating them here. There are only two main areas of difference: their views on usury, and on the concept of the "calling."

"In Thomist thought, reason and empiricism are not separated but allied and interwoven. Truth is built up by reason on a solid groundwork in empirically known reality. The rational and empirical were integrated into one coherent whole."

"The future of the euro is dark because there are such strong incentives for reckless fiscal behavior, not only for Greece but also for other countries."

"The fragment on classes was actually written prior to the initial publication of Volume 1 of Capital in 1867. Marx died in 1883. That he never returned to the fragment strongly suggests that he had no satisfactory theory of class."

In order to answer these questions, we must realize that government is an agency for coercion, and we should understand how man reacts to coercion or in the absence of coercion.

"Aside from its high production values, what's remarkable about this video is its theoretical accuracy and transparency. It has brought Austrian business-cycle theory from the background to the forefront of debate."

"With a free-market defense system, each man acts to defend his own values to the extent he wishes to have them defended, regardless of what piece of real estate he happens to be occupying."

Nonetheless, an important crack in the united macroeconomic front has been made with the admission that the policies are wanting and the neo-Keynesian establishment economics does not have a ready answer to explain either the causes or cures of such contemporary economic phenomena as inflationary recession.

After all, as motivated producers are necessary for providing marketable goods, so motivated sellers are necessary for delivering these goods to the willing buyers.