Financial Markets

"The notion of self-accountability is being eliminated by so-called 'progressives' who believe it unfair to struggle."

This lecture was presented remotely from the Mises Institute to Dr.

It shouldn't come as a surprise if it eventually turns out that the real danger is, like so often in the past, inflation rather than default.

Recorded at Jekyll Island, Georgia; 27 February 2010.

"There is no such thing as a nonspeculative investment.… In a changing economy action always involves speculation. Investments may be good or bad, but they are always speculative."

Finally, the most interesting aspect of the giant credit-card industry is the simple fact that it works.

Therefore, whether it is disproportionally hurting African-American teen workers with minimum-wage laws or further endangering already-endangered species, the state is no match for market mechanisms. It remains a slave to unforeseen consequences.

Victims of micro-level Ponzi schemes are only greedy; they don't infringe upon others' freedom. The same can't be said of those who demand that we all participate in these macro-level Ponzi schemes.

When pietists shift to the Republican party, they form the progressive movement of 1900-1920. Rockefeller- McKinley forms alliances with power brokers like Kuhn, Loeb & Co., and Harriman (versus the Morgans).