One World Trade Center, originally named the Freedom Tower, has been under construction for many years and only recently opened for business. It has been granted the title of the tallest building in the United States and the Western Hemisphere by the Council on Tall Building and Urban Habitat. However, the title is controversial because the building only reaches the record breaking height of 1776 feet with the use of a spire that is several hundred feet tall. It is also the fourth tallest building in the world.
Three cheers to Steve Baker, Conservative MP from Wycombe, for raising the delicate yet important of matter of fractional-reserve banking in Britain´s House of Commons.
Writing in Time magazine this week (and linked to in Drudge), Darlena Cunha compares the Ferguson riots of today, as well as the Los Angeles riots of 1992, to the Boston Tea Party, arguing that such events are similar, well within the American tradition of social change, and should be viewed as such. In this case, Al Sharpton is simply a modern Sam Adams, while the rioting in the news right now are extensions of those undertaken by oppressed American colonists of yesteryear.
Austrians gathered at the Southern Economic Association’s annual convention in Atlanta recently. In attendance were several Mises Fellows, Mises Summer Fellows and even graduates of the Mises University.
I organized a session called “Mundane Economics.” The idea behind the session was to use the ordinary tools of economics and hard work to defeat what is often “conventional wisdom.”
Part I
I see no good in having several lords:
Let one alone be master, let one alone be king.
Part II
Doctors are no doubt correct in warning us not to touch incurable wounds; and I am presumably taking chances in preaching as I do to a people which has long lost all sensitivity and, no longer conscious of its infirmity, is plainly suffering from mortal illness. Let us therefore understand by logic, if we can, how it happens that this obstinate willingness to submit has become so deeply rooted in a nation that the very love of liberty now seems no longer natural.
Part III
I come now to a point which is, in my opinion, the mainspring and the secret of domination, the support and foundation of tyranny. Whoever thinks that halberds, sentries, the placing of the watch, serve to protect and shield tyrants is, in my judgment, completely mistaken. These are used, it seems to me, more for ceremony and a show of force than for any reliance placed in them. The archers forbid the entrance to the palace to the poorly dressed who have no weapons, not to the well armed who can carry out some plot.
47. Economic Freedom in the Present-Day World
The program of liberalism (in the original sense of the term as it was understood in 19th-century Europe and not in present-day America where it is sometimes a synonym for radical interventionism, or more often for socialism and communism) was based upon cognizance that within the market economy, i.e., within the social system of private ownership of the means of production and the division of labor, harmony prevails among the rightly understood or long-term interests of all individuals and groups of individuals.
46. Economics as a Bridge for Interhuman Understanding
We intend to deal with the achievement of Utilitarian Philosophy and Classical Political Economy as far as they constitute a theory of peaceful human cooperation. One of the fundamental theses of Classical Economics is the theory of the harmony of the rightly understood—we prefer today to speak of the long-run—interests of all individuals and groups of individuals within a society of private ownership of the means of production and free enterprise.
44. On the International Monetary Problem
What is nowadays called governmental monetary management encompasses two kinds of policy. It is, on the one hand, deficit spending, i.e., undisguised inflation to enable the government to spend over and beyond the amount of funds collected by taxation or borrowed from the public. It is, on the other hand, a policy of easy money, i.e., of attempts to lower the market rate of interest by credit expansion.
