Rep. Alan Grayson Questions Fed Inspector General Elizabeth Coleman on the $9 trillion in off-balance sheet transactions.
Elizabeth Coleman: “We are in not a position to say if there are losses.”
Grayson concluded, “I am shocked to find out that nobody at the Federal Reserve, including the inspector general, is keeping track of this.”
The “two teeth for a tooth” view of punishment is espoused by Murray Rothbard (see “Punishment and Proportionality,” in Ethics of Liberty) and Walter Block (see Toward a Libertarian Theory of Guilt and Punishment for the Crime of Statism and Radical Libertarianism: Applying Libertarian Principles to
[This article is excerpted from Memoirs by Ludwig von Mises.]
”In Austria, one did not feel it was his national duty to ‘overcome’ the ideas of Western Europe.”When I first came to the university, Carl Menger was nearing the end of his teaching career. There was little attention paid the Austrian School of economics at the university, and I had no interest in it at the time.
NPR reports that: “Now, as the year’s second half begins, most economists are saying the worst of the recession is over, and that slow growth will begin in the fall.”
I was going to insert a sarcastic comment about how these mainstream economists all predicted the bust, right? Or maybe a comment about how NPR works full time for the Obama administration. But it’s all too obvious at this point.
Anyway, short-term optimism needs to deal with this reality:
[Killing in War. By Jeff McMahan. Oxford University Press, 2009. Xii + 250 pages.]
[Soft Despotism, Democracy’s Drift: Montesquieu, Rousseau, Tocqueville, and the Modern Prospect. By Paul A. Rahe. Yale University Press, 2009. Xxiii + 374 pages.]
Paul Rahe’s outstanding book can be considered an extended commentary on a famous passage in Tocqueville’s Democracy in America:
