[On this day in 1949, Yale University Press published the first edition of Ludwig von Mises’ Human Action. The following is from Hazlitt’s “Two Masterpieces by Mises.”]

We’ve long been told that gentrification is the scourge of many communities, and we’ve become very familiar with the scenario: a stable middle-class community is destroyed when wealthy (usually white) people move in, drive up home prices, and force out the “diverse” population that had been there previously. 

After years of abuse, the term “sexism” has become subjective to the point where it can be misconstrued in a variety of ways. In some cases, we’ve been told that sexism is being made worse by markets as producers of goods and services make sexist products or charge women more for products than they charge men for the same products. Common manifestations of this problem, we are told, include the gender wage gap, the “pink” tax, and sexualization in media.

[This article is a selection from Where Keynes Went Wrong]: 

Paul Samuelson, professor of economics at MIT after World War II and author of a best-selling economics textbook, was one of Keynes’s most ardent American disciples. Here is what he has to say about the latter’s General Theory:

Conscription, also known as “the draft,” is typically justified with appeals to values like partriotism, public service, and “sharing the burden.” That’s in peacetime. In times of war, of course, government claims conscription is necessary to provide the manpower needed for military victory.

Apologists for the draft keep all of these claims ready, just in case. The US, of course, has never really let go of the draft and continues to maintain the Selective Service, just in case.

This article originally appeared in the ”New Individualist Review,” vol. 2, no. 2, Summer 1962, pp. 15–27.

The extortions and oppressions of government will go on so long as such bare fraudulence deceives and disarms the victims—so long as they are ready to swallow the immemorial official theory that protesting against the stealings of the archbishop’s secretary’s nephew’s mistress’ illegitimate son is a sin against the Holy Ghost. ~ H. L. Mencken 

Similar to the English legend of Robin Hood, the character Johnny Appleseed has evolved over time into a progressive icon. In the former, the famed outlaw, made an enemy of the government by reclaiming unjust taxes, became a socialist folklore hero who “stole from the rich and gave to the poor.” Johnny Appleseed, an American legend, is depicted as a selfless peripatetic, traveling the country planting apple trees so that nobody would go hungry.

The issue of when a global reserve currency begins or ends is not an exact science. There are no press releases announcing it, and neither are there big international conferences that end with the signing of treaties and a photo shoot. Nevertheless we can say with confidence that the reign of every world reserve currency has to come to and end at some point in time. During a changeover from one global currency to another, gold (and to a lesser extent silver) has always played a decisive role.