Defend the Gold Standard

To criticize a monetary system based on gold as “rigid” only makes sense if you believe that printing green pieces of paper makes a country richer. After all, the only rigidity enforced by the gold standard is on the central bank’s use of the printing press. Requiring the government to maintain a fixed dollar/gold exchange rate is “restrictive” in the same way that the Bill of Rights limits the discretionary power of the feds.

Beating Back Obamanomics

We find ourselves facing the horror of what has always been the Achilles heel of the left wing: its abysmal ignorance of economic science. The ideological tendency has gone from Keynesianism to outright socialism in a matter of a few weeks. And the trajectory seems to be accelerated mainly by the logic of the interventionist cycle

Study: Free Markets Superior to Patent Monopolies

An ars technica post, Study: free markets superior to patent monopolies, reports:

Our economic system is based on the expectation that markets can provide optimal solutions more efficiently than monopolies, with one glaring exception: patents, which are structured in a “winner takes all” manner. A study appearing in today’s edition of Science suggests that markets might work here, too.

Schumpeter vs. Keynes

Schumpeter never opposed government intervention like his classmate Ludwig von Mises. He may not have been the strongest free-market advocate, but he would surely be dismayed by the current worship of Keynesian interventionism, which will ultimately stifle the entrepreneurial genius that drives capitalism and improved living standards.

The Lies are Sacred, Blessed by Government

As Paul Cleveland explains, what Obama believes is a lie — a sacred lie. “The first, and biggest lie, is the notion that the institution of government is capable of successfully and adequately addressing all human problems,” Cleveland writes in his book Unmasking the Sacred Lies. “The truth is that such collectivism hampers human progress because it opens the door for many flagrant abuses of people and their property rights.”

Obama Says Short US Treasuries

With public held debt already at a spiking 4.1 times gross US savings and an even more eye-popping 23 times net private, state and local savings, one should expect even more upward pressure on US Treasury interest rates as our spend-happy government is forced to expand its take of the public credit market.
Subscribe to