A couple weeks ago, Tho Bishop reminded us of Bob Murphy’s explanation of the relationship between Bitcoin and the Regression Theorem. In the original post by Dr. Murphy, he addresses a common objection to Bitcoin made by Austrian economists:
I’ve just finished up a week of lectures and meetings in India. It was an interesting trip, but not an encouraging trip.
My first observation is that Indians are enormously successful when they emigrate to the United States. And they also do very well when they migrate to Singapore, South Africa, and other place around the world.
Jane Gleeson-White’s bestselling Double Entry: How the Merchants of Venice Created Modern Finance is firmly entrenched as the leading primer to accounting history. This extremely popular and well-written book begins by arguing that accounting was the world’s first communications technology. The first accounting system dates from 7000 BC and the first complex accounting systems date from 3500 BC.
The World Wide Web was born in Geneva, Switzerland, in December of 1990. It went live on (now Sir) Tim Berners-Lee’s desktop and promised to provide his organization, CERN, with a non-hierarchical information sharing system.
For some reason, one of the worst reviewed fast food restaurants in America has made the bold decision to get into political activism - and in doing so demonstrated how ridiculous the policy they are advocating truly is.
Paul Krugman’s latest missive in the New York Times is a nice example of his two recurrent themes, namely self-regard and world-weariness.
Austrian economists often employ the pedagogy called “Crusoe economics” to illustrate the foundational principles of economic theory. Robinson Crusoe is alone on an island. He has nothing but his own body at his disposal, and he needs to find food and construct a shelter to survive. So what does he do?
He starts punching trees, of course!
In 2017, the US spent more than $50 billion on foreign aid. Why then are so many of the countries receiving this aid still living in dire poverty with starvation as a constant threat? Why doesn’t this aid foster economic growth and development in those regions? Because just throwing money at a problem, foreign aid in this case, simply doesn’t work.
