The Generosity of Murray Rothbard

It is a magnificent thing that Murray Rothbard’s most overlooked masterpiece, his Austrian Perspective on the History of Economic Thought, has been made available free online in two volumes, with complete navigation tools. It is the culmination of a process that began in the 1980s with the original research and writing, and many lectures, presented at the offices of the Mises Institute.

Or you can just make up stuff, no matter how ridiculous

Thus does Thom Hartmann at the Huffington Post say that “The intellectual forefathers and mothers of the insane conservative economic policies that have brought us to where we are include Ludwig Von Mises, Freidrich Von Hayeck (sic.)...”

Never mind that Mises and Hayek were the 20th century’s premier opponents of loose money and central banking and subsidized credit.

There Will Be (Hyper)Inflation

That said, the German hyperinflation was the result of a policy that considered the financing of government debt by an accelerating increase in the money stock as the politically least unfavorable method. It seems that the state of opinion hasn’t actually changed much. Today, there is great public support when it comes to expanding the base-money stock for financing ailing banks, insurance companies and, most important, rising government debt.

The Flat Tax Is Not Flat and the FairTax Is Not Fair

Two specific tax reform plans that some libertarians have fallen for are the Flat Tax and the FairTax. Both plans promise to invigorate the economy, increase employment, and raise everyone’s standard of living. Neither one is true to its name; neither one is an incremental step toward overall lower taxes. Both are fraught with problems and contradictions; both are revenue-neutral plans that would fund the federal government at the same obscene level that it is now.