August 2 saw Matthew Beller’s Daily Article “The Coming Second Life Business Cycle,” which sounded at first blush like yet another announcement of the coming Rapture. But it described the fiat money (Linden Dollars) of the fiat world of the Internet, known as Second Life. And sure enough, just like the First Life (this one?), the creation of money out of thin electrons would produce a business cycle.
A couple arrested at a rally after refusing to cover T-shirts that bore anti-President Bush slogans settled their lawsuit against the federal government for $80,000, the American Civil Liberties Union announced Thursday.
Media Critic Solomon Pushes Limits of Fair-Use in New Documentary provides a good illustration of how flawed the entire notion of copyright is. This piece reports that:
One family’s experiment — and the results.
[This article is taken from the introduction to The Bastiat Collection.]
“And now I would appeal with confidence to men of all schools, who prefer truth, justice, and the public good to their own systems. Economists! Like you, I am the advocate of LIBERTY; and if I succeed in shaking some of these premises which sadden your generous hearts, perhaps you will see in this an additional incentive to love and to serve our sacred cause.”
It appears that the Appalachians are about to move again. Earthquakes? Shifts in tectonic plates? Not this time. Instead, the movement will be the result of an even more damaging force: congressional legislation.
From time to time over the last 30 years, after I have talked or written about some new restriction on human liberty in the economic field, some new attack on private enterprise, I have been asked in person or received a letter asking, “What can I do” — to fight the inflationist or socialist trend? Other writers or lecturers, I find, are often asked the same question.
Today’s is Fritz Machlup’s Birthday (1902-1983). Here is one of his great works back in print.
