Fears of a “Brain Drain”
People in developing countries complain about the “brain drain” supposedly practiced by rich countries, writes Mihai Sarbu. This complaint surfaces even among Europeans with respect to the United States. The idea is that the US is stealing the most qualified talent from Europe in an unfair way. But is this bad and unfair, as most in these countries claim? Are “human capital” exports always bad and imports always good?
Chinese Wikipedia Edition: Mises Institute
Middle-of-the-Road Policy Leads to Socialism
[This address was delivered before the University Club of New York, April 18, 1950. First printed by Commercial and Financial Chronicle, May 4, 1950; now available in Planning for Freedom.]
A Pro-Capitalist Institute
This looks very impressive: Wheeling Jesuit University has established an Institute for the Study of Capitalism and Morality
Why Not Understanding ABCT Helps Socialism
In my view, the most important Austrian theory is Austrian business cycle theory (ABCT). Understanding that is of enormous importance in understanding financial market movements and swings in economic growth. But although ABCT (albeit in a perhaps modified form) have gained increasing support in leading institutions and publications such as the Bank of International Settlements and The Economist, most so-called free market advocates refuse to embrace it.
Financing the Empire
The adoption of the Federal Reserve central bank, the breaking of the last linkages with gold, and the further dollarization of the world banking system has only enhanced the economic arm of US imperialism, writes Mark Thornton. Nowadays, the US Treasury can issue bonds in astronomical amounts only to be absorbed seemingly harmlessly by the Fed and central banks around the world. For its part, the Fed pays for the bonds with a simple electronic bookkeeping entry in its accounts and no one is the wiser.
Some intimate details on the Google YouTube Deal
Not sure how accurate this is, but this is at the very least a fascinating guess as to Some intimate details on the Google YouTube Deal. One interesting part about this is the theory that Google negotiated with large media companies, who had potentially large and crippling copyright claims against YouTube, “an agreement to look the other way for the next 6 months or so while copyright infringement continues to flourish. ...
Who is the Forgotten Man?
William Graham Sumner, whose birthday in 1840 was yesterday, was described by one writer as “The Gilded Age’s most renowned teacher of social science and indefatigable defender of [classical] liberalism.” A follower of Adam Smith and professor of political and social science at Yale for 37 years, he consistently defended the “organic” social order individuals created by their own actions against the “artificial or mechanical” conception of society held by social engineers.
Book Announcement: Abel Upshur’s “A Brief Enquiry into the True Nature and Character of Our Federal Government”
I am pleased to announce that Abel Upshur’s 132-page book A Brief Enquiry into the True Nature and Character of Our Federal Government: Being a Review of Judge Story’s Commentaries on the Constitution of the United States has now been reprinted as No. 120 of my Classic Reprints series. Here is a brief description:
