Mises Daily

If banks and other credit institutions are multiplied, and if credit operations are facilitated by public security, good administration of law, etc., less money is needed.

In this article I'll walk through Glaeser's critical observations, most of which misfire.

Jefferson rejected the Federalist axiom that in order to have peace one must prepare for war — the theory being that the more powerful a country was in armaments the less likely it was to be attacked. Jefferson doubted both the wisdom of this theory and Federalist sincerity in invoking it."

And yet every day, young people are finding ways around these preposterous restrictions that are hardly ever questioned, imbibing with their booze a disdain for the law and a creative spirit of criminality, along with a disposition to binge drink when their legal workarounds succeed.

Or will we stick to principle, pay whatever price that involves, and leave the world a better place? I submit to you that anyone who has ever truly loved liberty has chosen the second course.

Institutional unemployment is not the outcome of the decisions of the individual job seekers. It is the effect of interference with the market phenomena intent upon enforcing by coercion and compulsion wage rates higher than those the unhampered market would have determined.

No other woman in America ever had to suffer such persistent persecution.

A more realistic view is that a housing boom and bust happened to strike a fragile financial system whose fragility was worsened by ill-conceived government interventions.

On January 22, 1991, Mikhail Gorbachev, the president of the Soviet Union, decreed that all existing 50- and 100-ruble banknotes were no longer legal tender and that they could be exchanged for new notes for three days only and only in small quantities. This had the effect of instantly deleting large portions of the savings and accumulated capital of private citizens.

The revolutions were not "against England per se, but against the oppressions of the state, dominated by the English government." Rothbard adds that they "failed largely because the domestic oligarchs were propped up and reimposed by the English power."