Larry Sechrest (1946–2008) was professor of economics at Sul Ross University, adjunct scholar of the Mises Institute, and author of Free Banking: Theory and History of a Laissez-Faire Model.
Larry Sechrest provides a concise (4000-word) explanation of the concepts of malinvestment and overinvestment and how they help us understand economic depressions and the boom-bust cycle.
One of the most instructive of all examples from maritime history is that of privateering, that is, the employment of profit-seeking, private armed ships during wartime.
