Supreme Court rulings are significant not only for their decision on who wins, but also for their reasoning. A victory for common sense may sometimes be pyrrhic if it benefits the party who wins the dispute but relies on reasoning that erodes individual liberty in the longer term.
“Politics in all its variants, particularly the politics of political parties, is the archenemy of freedom, prosperity, and peace. Yet wherever one looks, more government is invoked as the solution.”—Antony P. Mueller, “Is Anarcho-Capitalism Viable”
According to some economic commentators, the key for economic stability is that the central bank should state clearly the likely course of the monetary policy ahead. In this way of thinking, expected monetary policy is a factor of stability while unexpected policy sets shocks and instability. The transparency framework is based on the ideas of the Chicago School economists Milton Friedman and Robert Lucas.
The U.S. Government sells debt on a revolving door basis, yet most people aren’t aware of the mechanism by which this is done. Luckily, ZeroHedge covers the debt auction results, which allows us to articulate one of the structural problems in the Federal Reserve system. As reported last week:
“Thank you for your service.” It’s a sentence I have spoken many times to veterans and people in military uniform. The ideals in which the United States military is ostensibly rooted—honor, duty, bravery, transcendence of self—are ideals to which all men ought to aspire.
A man stands at a farmers market stall. His wife is talking to the farmer. He picks up a chicken. Paper-wrapped, no barcode, a handwritten tag on the twine. He holds it close to read the label and sets it back down fast. The price is an insult. What are these people thinking?
A minute later, another man reaches for the same bird, reads the same label, and smiles. What a deal.
