“The Dufaur de Gavardie de Monclar family, who jointly own Bastiat’s property in Souprosse, inform us that they have reluctantly decided to put it up for sale, as no one member of the family is able to purchase it.

From Tyler Cowen writing in The Freeman on “The New World of Blogs”:

“The Mises Blog. This blog is published by the Mises Institute. It offers regular commentary on economic events, economic theory, and sometimes foreign policy. The point of view is strongly free market on policy and strongly Austrian on economic method.”

February 27, 2004

Austrian economist Hans Sennholz servys the inflation/deflation controversy and forecasts that we are headed for stagflation, an inflationary period of economic stagnation:

So Greenspan says that Freddie Mac and Fannie Mae are so big and so out of control that they represent a threat to the whole financial system. Well, asks Frank Shostak, just how does Greenspan think they got to be that way? Might it have something to do with a central bank that guarantees the life of not only these two institutions but every bank in the US?

Cross-posted at Liberty & Power blog.

What exactly is Bush’s Jobs & Growth Tax Relief Reconciliation Act of 2003, and what, essentially, are the pros and cons of it?

The Economist:

A remarkable story, from our own hometown newspaper, showing how licensure is ultimately backed by the police power, and on behalf of a producer cartel, in this case the veterinarians:

The main argument for protectionism one hears today cites America’s huge current account deficit, which is cited as evidence for the need for trade barriers.

One example of this was in the debate between CNN’s protectionist News anchor Lou Dobbs and free trader James Glassman from the American Enterprise Institute. Dobbs kept harping about the current account deficit, while Glassman responded by claiming that the American economy was fundamentally sound.

Remarks by Governor Ben S. Bernanke at the H. Parker Willis Lecture in Economic Policy, Washington and Lee University, Lexington, Virginia March 2, 2004: Money, Gold, and the Great Depression : “allowing persistent declines in the money supply and in the price level, the Federal Reserve of the late 1920s and 1930s greatly destabilized the U.S. economy and, through the workings of the gold standard, the economies of many other nations as well.”