The Government’s Cooked Books
A distinguishing feature of a credit instrument is that it cannot be owned by the debtor it would otherwise bind. Yet the United States handles its accounts in just this way.
Universal Coverage Means Suppressing Human Choice
To derive a measurement for efficiency is both theoretically absurd and practically impossible. Economists don’t know which quantities, prices, production processes, and types of employment are efficient.
Rothbardianism In Iraq?
At my blog Free Advice, a Marine reservist who spent time in Iraq describes a post-Saddam village that is on the borderline between a very limited government and a real-world example of anarcho-capitalism. Basically, in the comments the readers who are anarchists think it is an example of anarchy, while those who say “anarchy is unstable” obviously disagree.
Economists on Strike?
The phrase “unintended consequences” attributes ignorance to the actions of union members. In large part, for many, including these unionized economists, the consequences must be intended.
The Irrelevance of the Impossibility of Anarcho-Libertarianism
A 1982 article, The Impossibility of anarcho-capitalism, was recently called to my attention. In it, the author, one Tony Hollick, argues that the “components” of anarcho-capitalism are:
Privatization to save socialism?
That’s the headline on this article from St. Petersburg Times: “Cuba’s leaders see private farmers as key to saving socialism.” It is an interesting read, further documenting the failure of all forms of socialism. Someone in the White House should read this.
But is the notion itself absurd? The undoing of socialism is the solution being discussed here. The idea that this somehow saves socialism is about as silly as the idea of government stimulus saving capitalism.
Branden’s Judgment Day
There are considerable differences, however, between Barbara’s and Nathan’s books. For one thing, Barbara focused on a legitimate topic: a biography of Ayn Rand, for all her follies an author of some stature.
Inflation and the Fall of the Roman Empire
By the time of Trajan in 117 AD, the denarius was only about 85 percent silver, down from Augustus’s 95 percent. By the age of Marcus Aurelius, in 180, it was down to about 75 percent silver. In Septimius’s time it had dropped to 60 percent, and Caracalla evened it off at 50/50.
Can a Central Bank Go Broke?
Central banks that are only able to inflate the money supply in their own domestic currency face significant challenges when faced with banking systems heavily indebted in foreign-denominated liabilities.
What To Do With What You Did Over Your Summer Vacation (2009)
So you’ve been to a summer program sponsored by Mises, IHS, FEE, Cato, Independent, or any of a number of other organizations dedicated to economic research and education. You’re excited, and you’re firmly grounded in your understanding of the classical liberal tradition. You wonder: what now? Here are a few suggestions that will help you make a difference and contribute to the discussion while developing your writing ability.
