Mises en 1926: La opinión pública siempre quiere «dinero fácil», es decir, tipos de interés bajos. Pero la propia función del banco emisor de billetes es resistirse a tales demandas, protegiendo su propia solvencia.
Mises in 1926: Public opinion always wants "easy money," that is, low interest rates. But it is the very function of the note-issuing bank to resist such demands, protecting its own solvency.
At the heart of Keynesian business cycle theory is the so-called liquidity trap. Contra Keynes, however, economies don't falter because a sudden increase in the demand for money.
One of the fundamental tenets of Austrian economics is the ordinal value scale. Augustine articulated the idea more than a thousand years before Carl Menger wrote his pathbreaking Principles of Economics .
In 1991, India's political leaders moved away from socialism, embracing markets and improving the economy. But Indian elites continue to push socialism to the detriment of the people.
Three years after the covid virus hit the world, we are just starting to take a hard look at the damage caused by the covid restrictions. The "experts" not only were wrong; they were scandalously wrong.
The president's SOTU speech has become an annual presentation of a new set of White House lies. But official Washington believes it is worse to publicly boo false statements than to make them.
It's a myth that the "Founding Fathers" made America a republic in 1787. It was the state governments and their constitutions that did this. But the top-down myth glorifying the central government endures.
