Declare Detroit a Free City
All that Detroit really needs is economic freedom and secure property rights. Give Detroit its freedom from all manner of government, including the federal government.
The Libertarian Paradox
There is an intuitive sense according to which the first user of a good holds moral priority over latecomers.
Insuring Deposits, Ensuring Insolvency
The US government is trying to implement the 21st century version of the Glass-Steagall Act of 1933.
Skyfall
Watched Skyfall on a plane the other day. A well-made and entertaining film. Old fogies like me will appreciate the retro Bond touches. But it’s hard to be a libertarian and fully enjoy these sorts of movies, especially in today’s political climate. The surveillance / national security state is glorified every day in the mainstream press; do we need this from Hollywood as well?
Orson Welles on Contracts and the Rule of Law
From Peter Biskind’s hilarious and irreverent My Lunches with Orson, the edited transcripts of Orson Welles’s conversations with director Henry Jaglom in the mid-1980s:
ALL THIS WEEK: Virtual Mises University
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The Demagogue of Vienna
[Part 2 of “In the Shadow of Dr. Lueger,” Independent Review, 2013. Click here for Part 1.]
Fractional Reserve Banking Paper
You may have missed this paper by Bagus, Howden, and Block on Fractional Reserve Banking: Deposits, Loans, and Banking: Clarifying the Debate
Here is an online version of the working paper
Inevitable Inflation?
In any other country where the capital structure is less developed, the transition to price inflation would be more intense and instantaneous.
Capital Requirements Won’t Save Us
The introduction of new tighter capital requirements by banks cannot make them more solvent in the present monetary system.
