Alan Sweezy, brother of Marxist Paul Sweezy, reviewed Menger’s Collected Works in 1936, and said that Menger had a great theory until he attempted to universalize it. A very interesting if completely wrongheaded review.
A blogger at NPR likes this Mises blog story on the A - Team.
Yet another ridiculous result of the US legal system: Spamhaus fined $11.7 million; won’t pay a dime reports the case of the heroic UK spam-fighting blacklist site Spamhaus, which was sued in the US by spammer e360. Spamhaus simply refused to participate and let e360 win a “default judgment,” since default judgments are not recognized in the UK. As Spamhaus notes:
Hungarian prime minister admits on tape that the government “lied morning, evening, and night” to win the April election. In other news, a dog barked, a cat meowed, and bird chirped.
This past spring I pointed to a large visual aid that illustrates the budgets each agency receives. The new 2007 edition has just been released and it lives up to its predecessor.
Since 1990, we’ve heard about what a low rate of inflation we’ve experienced. In some ways, it might appear low compared with what we experienced in the late 1970s. The dollar of 1976 was worth only 63 cents by 1981, once the Nixon-Carter inflation had done its work.
The cultural and economic consequences were devastating. A generation was punished for having saved and accumulated capital. Debtors were rewarded, with the government being biggest debtor, of course.
