The Transition to Monetary Freedom
Any attempt at restoring monetary freedom must be part of a comprehensive plan to roll back government.
Military Spending and Bastiat’s “Unseen”
[An army of] a hundred thousand men, costing the taxpayers a hundred million of money, live and bring to the purveyors as much as a hundred million can supply. That is which is seen.
But, a hundred million taken from the pockets of the taxpayers, ceases to maintain these taxpayers and their purveyors as far as a hundred million reaches. This is that which is not seen. Now make your calculations. Add it all up, and tell me what profit there is for the masses?
-Frédéric Bastiat
Responsibility and Private Property
Where there has been neither force nor fraud, the accumulation of wealth (profit) is the reward for the responsible use of resources in social production.
A Tale of the Reinvention of Capitalism
The unraveling of a socialist system. The rediscovery and triumph of capitalism.
Will Foreign Loans Make Us Rich?
If it were true that we could create prosperity merely by making goods to give away, then we would not have to give them to foreign countries.
Barter in Prehistoric Times
The history of primitive peoples shows that the desire to trade and barter is a universal human characteristic.
Colonial Virginia’s Relations with the Indians
The spark that set off the great rebellion of 1676 came from the tinderbox of Indian relations. To explain them we must first go back to chart the history of Indian-white relations in 17th-century Virginia.
Some insights from my visit to the ECB
Last week I attended a workshop at the ECB on Global Liquidity. Global Liquidity of course refers to money flowing throughout the world as a result of western central bank money printing—especially Fed printing. I thought it might be beneficial to highlight some insights gained.
1. Attended mostly by central bankers, the group of 40-50 people seemed to be in agreement that their—and particularly the Fed’s—monetary policy is a key driver of financial asset prices, including commodities and real estate.
Praxeology: A New Start from Ludwig von Mises
Classic: Praxeology: A New Start from Ludwig von Mises — Ch 20-all (pg 137–144) from ASE by Schulak and Unterkofler [2,977]
Classic: Praxeology: A New Start from Ludwig von Mises — Chapter 20.
Fundamentals of Human Action
The Law of Returns
We have concluded that the value of each unit of any good is equal to its marginal utility at any point in time, and that this value is determined by the relation between the actor’s scale of wants and the stock of goods available. We know that there are two types of goods: consumers’ goods, which directly serve human wants, and producers’ goods, which aid in the process of production eventually to produce consumers’ goods. It is clear that the utility of a consumers’ good is the end directly served.
