The Rise and Fall of the Dollar: 1800-2009
Mises Daily contributor Sean Malone has created this wonderful graphic summary of the rise and fall of the US dollar from 1800 until now:
The Why of Fed Secrecy
The Clearing House Association says that the Fed has to keep its business under wraps else negative rumors lead to runs. Well, it didn’t say runs; it only alludes to unnameable “negative consequences.”
If you had Bernanke’s identity
This identity thief apparently cashed checks using the Bernanke identity. Imagine the missed opportunities for printing trillions!
Monarchy, Not Legitimism
The world today recognizes the principles of self-determination and the sovereignty of the people. In conformity with this principle, the position to take is, “Let the Austrian people decide.”
Marxism without Polylogism
[Excerpted from chapter 5 of Freedom, Property, and Society: Essays in Honor of Hans-Hermann Hoppe.]
Ludwig von Mises believed that the topic of polylogism was important enough to put up front in the introduction of Human Action:
The Duplicity of Ben Bernanke
Ben Bernanke has expressly acted in direct contradiction to every one of his stated goals as Federal Reserve Chairman: transparency, stable prices, minimal intervention.
Wilhelm Ropke and his liberal outlook
I’ve long had a fascination with Wilhelm Ropke, outstanding economist, tough-minded anti-Keynesian, political decentralist, advocate of free trade and hard money, author of some outstanding works on political and economic liberty, and also moralist and defender of bourgeois culture. We have a nice collection of his work online and in the store. Today we add online The Social Crisis of Our Time.
Headlines are ever more bizarre
GDP declines 1 percent, better than expected: “The economy shrank at an annual rate of 1 percent in the spring, a better-than-expected showing and more evidence that the recession is drawing to a close.”
Maybe suggest your own versions such as: “Dresden bombing preserves more buildings than expected; GDP-boosting rebuild already underway.”
Even When Krugman’s Right, He’s Wrong
Prashanth Perumal insisted that I comment on this Krugman blog post from January. The reason I didn’t comment on it at the time was that my views here are rather nuanced. It’s one of those tricky situations where I agree with Krugman that his opponents are wrong, but I deny that Krugman is therefore right. In other words, Krugman’s enemies–Eugene Fama and John Cochrane–use invalid arguments but reach a true conclusion, namely that big government deficits don’t help an economy in recession.
Aristotle’s Legacy: The Reality and Ethics of Communal Property
Aristotle has shown that man can be truly generous only in a private city. Rather than help men grow in maturity, socialized property will stunt men’s moral development by removing their options.
