Congratulations to Thomas DiLorenzo on the Korean edition of his landmark book, The Real Lincoln, and on being asked to serve as an on-air commentator on the dictator by the History Channel.

Posted by Llewellyn H. Rockwell, Jr.

• The Re-Monetization of Gold (Gary North, LRC): “If gold is to be re-monetized, then this must mean that it has been de-monetized. But isn’t gold money?No, gold is not money. It has not been money for Europeans since 1914, when the commercial banks stole it from depositors at the outbreak of World War I, and central banks then stole it from commercial banks before the war was over. Gold has not been money for Americans since 1933, when Roosevelt unilaterally by executive order stole it from the public.

My first exposure to formal economics came during my undergraduate degree at Washington University. I was working on an engineering degree and they required that we take some basic economics. So in 1990–1 I took Econ 103/104, introductory micro and macro economics. I found it boring, irrelevant and uninspiring. If you had told me then that I’d be returning to the university 10 years later to do graduate study in Political Economy I would have told you that you were crazy.

• Against Discouragement (Lew Rockwell, LRC): “The biggest enemy liberty faces is demoralization and discouragement among its friends. This has always been true. It is also true that there has always been a good case to be made for demoralization and discouragement. The founding fathers felt it before 1776. The opponents of communism in Russia felt it from the 1920s through the 1980s. In the US, the Jeffersonians felt it before their revolution of 1800, as did the opponents of prohibition in the 1920s.

It appears as though my prediction that pharmaceutical companies would cease to sell to Canadian pharmacies that export to the United States has come true. Today’s Wall Street Journal Reports ($):

     “Canadian internet pharmacies are refusing to back down as big drug makers intensify their battle to block exports of cut-price drugs to the U.S. from Canada.

Paul Krugman, who is partly right here, once again tells us of the horrible evils of private enterprise.  It seems that the food and water for U.S.

Obviously, Paul Krugman would hold that the problem here is that there is not enough socialism.  Maybe the Brits have cut taxes too much. 

In one of the few statements Schwarzenegger has made on economics, he once said that he liked Adam Smith better than Keynesian theory. Such statements invariably give rise to the left’s claim that Smith was no advocate of laissez-faire.  Here is Norman Solomon making exactly this point. And as Rothbard showed in his  History of Thought, the left has a point.

People complain about both overdevelopment and the shortage of housing, writes Gene Callahan, without considering the contradiction. In housing, as in all sectors, if one does not carefully trace the problems back to their roots in a previous intervention, it is very easy to believe that yet another intervention is just the ticket for rectifying them.