Austrians have a different way of understanding history. For Rothbard, for example, a particular price datum is, no less than the Spanish-American War, a historical event, and its causes must be traced back to the subjective aims governing human plans and choices.
Ron Paul runs an honest campaign. Unlike that of the typical politician who carefully tailors his speeches to match the prejudices or vested interests of his audience, Dr. Paul's message is always the same: fractional-reserve banking and fiat money are violations of historic legal principles.
We would do well to study the intellectual, political, social, and economic history that made Mises write with such urgency and passion.
There is 1 percent out there who do live parasitically off the population and exploit the 99 percent. Even today the state is made up of a tiny sliver of the population but is the cause of all the impoverishing wars, inflation, taxes, regimentation, and social conflict.
Whether it's diamonds and water or hardbacks and e-books, the only cogent explanation for prices comes from the Austrians, not the classical economists.
An increase in the quantity of money doesn't bring any general improvement of conditions.
What the protesters do not realize is that the wealth of the 1 percent provides the standard of living of the 99 percent.
The labor of the plowman is of less value than that of the artisan.
The erratic volatility of gold and other commodities is the direct result of further intervention into the market through central banking.
The Treasury needed someone who could clothe the bareness of financial heresy with a plausible nontransparent drapery. Mr. Keynes was taken into the British Treasury as its principal adviser, seated on the board of the Bank of England, and elevated to the peerage as Baron Keynes of Tilton.
