John Hathaway, manager of the Toqeuvill Gold Fund, has penned an essay Numeraire to Sucissions, on the mining and production of gold, its monetary nature and the attempts by central banks to deny this, and the future of the financial system.  Hathaway makes an important point that is rarely understood by gold analysts, most of whom focus on the supply of new gold from mines in relation to the demand for this new supply.  As a monetary commodity, all of the gold that exists is held by individuals who are de

From the Prudent Bear:

Today’s fund managers and brokerage analysts have no fear of The Old Gunfighters and are bullish as can be. They have upgraded their homes, moving out of Lake Woebegone to the new gated development up the road, Lake Wowbeme.

Phillip Bagus today shows that Mises came before Hardin in the discussion of the problem of the commons. Let me also add Aristotle and Thucydides:

From MarginalRev comes a link to this  very interesting story on a convenience-store owner who was accused of gouging during Hurricane Isabel.

Re: the Great Depression controversy.

Published in the FinTimes, November 15, 2003:

Patrick J. Buchanan to George W. Bush: Make sure Americans have to pay through the nose for steel.

King Banaian’s post at Liberty&Power (scroll down a bit) says that Mises’s view that interventionism prolonged the Great Depression does not appear to have been Rothbard’s. In fact, Rothbard’s  America’s Great Depression only explained—and was only intended to explain as he explicitly points out in his Intro (p.

India’s Poor Bet Precious Sums on Private Schools (New York Times): “In this democracy of more than one billion people, an educational revolution is under way, its telltale signs the small children everywhere in uniforms and ties. From slums to villages, the march to private education, once reserved for the elite, is on.”