How World War I Paved the Way for the Warfare State
by David Stockman
Remarks To The Committee For The Republic, Washington DC, February 2014 (Part 1 of 6 Parts) [From David Stockman’s Contra Corner.]
The Austrians as Trotsky or Goldstein
Lets hear it for the Austrian School. Yes, after much soul searching and research the Washington Post’s resident Marxist E.J. Dionne has discovered why things are not getting done in Washington the way he would like. Yes, it is the Austrian School of Economics.
Youtube Version: Jeff Deist Interview with Ron Paul
Yesterday’s video featuring Jeff Deist and Ron Paul has been added to Youtube. This version is also slightly longer:
Evaluating the Permanent Recession with Robert Blumen
Robert Blumen was interviewed this week on Power Trading Radio. Blumen explains Say’s Law, Keynesianism, and discusses his recent Mises Daily article “Say’s Law and the Permanent Recession.”
Yes, Paul Krugman is an Underconsumptionist
One way to make a Keynesian bristle is to tell him that Keynesian theory at its core is little more than the discredited belief of “underconsumption.” Now, the standard “underconsumption” theory is built upon the premise that unless an economy can “buy back” the products that are created, the economy will drift into crisis as inventories pile up, layoffs occur, and the economy implodes into a perverse equilibrium — and stays there unless government intervenes to save the economy.
Mt. Gox Problems Mount
In the aftermath of the demise of bitcoin bank Mt. Gox comes a few startling revelations. A newly released “Crisis Strategy Draft” confirms some unfortunate truths long suspected of its handling of clients’ bitcoin deposits. (The document might be a fake, but I’ll accept it as legitimate until proof otherwise surfaces.)
Fiat Money and Business Cycles in Emerging Markets
After the stock market collapse of 2008 and a decline of 3.4 percent for U.S. GDP in 2009, investors rushed to stash funds in emerging markets (EM) where economies were growing at a 3.1 percent annual rate. But the US stock market fell in January of this year largely due to financial trouble in emerging markets. The economies of EM nations, such as, Brazil, Russia, India, Turkey, Thailand, and China, have deteriorated in part because of the withdrawal of US dollar investments from them.
Inflation Does Not Produce Economic Growth
If price inflation near 2 percent is good for the economy, why not aim at a higher rate of inflation and make the economy much healthier?
If I Must Sell, You Must Buy
If I were a business owner, must I sell to you? If you answer yes, you must balance that requirement with your obligation to buy from me.
All trade is bilateral. Well, to be more exact, and since we live in a country where a nebby uncle named Sam interferes in many trades, it is better to state that all free trade is bilateral.1
Audio: Mark Thornton On Chicago vs. Austrian Healthcare and Mises Global
Mark Thornton talks with Redmond Weissenberger about healthcare and more.
