Christmas is a make-or-break time for many retailers, and the holiday season’s importance to the American economy is so great that “Black Friday” sales at some retailers, particularly Wal-Mart, are reported as a macroeconomic indicator. The holiday season is indeed festive and inspiring even in spite of clichéd paeans against the “commercialism” of Christmas. But does the Christmastime “bacchanalia of peace on Earth and goodwill towards men” promote economic growth or not? FULL ARTICLE

In a recent post, I linked to “The Economics of Santa’s Workshop” and “Scrooge Defended,” both classics from Mises.org.

The Economist has an interesting story on how markets drive goods and services to zero price in the presence of relentless innovation — with the web as the example in question.

ZIMBABWE’S tough-talking central bank chief Gideon Gono unveiled three new banknotes yesterday in the clearest sign yet that he is losing the battle against skyrocketing inflation.

In a live TV broadcast, Dr Gono said he was introducing a Z$250,000 note, a Z$500,000 note and a Z$750,000 note. None of them is enough to buy a single loaf of bread.

The Fifth Amendment of the United States Constitution:

Murray Rothbard writes:

As Northern Hemisphere snow cover exceeds the 10-year seasonal average, another backlash against the Carbocollectivists’ claims of consensus has been compiled, featuring more than 400 scientists, not all of whom, surely, can be secretly working for Exxon.

As a means to try to ease chronic nationwide air travel delays, the feds are going to reduce the number of flights in and out of New York City during peak travel times. That’s certainly one way to reduce delays, similar to Lenin and Stalin reducing food shortages by implementing mass starvation. But, I digress.