Free Markets

Studying Jörg Guido Hülsmann’s latest book, The Ethics of Money Production, is a vastly enriching experience.

Murray Rothbard was more aware than anyone of the ongoing evils perpetrated by government and he was never given the proper recognition in academia. But he was constantly happy and loved to laugh. Now I know Murray wasn't a joyous libertarian by himself; he had help from his smart, wickedly funny best friend Burt.

The amazing fact is that the great majority of British people are not yet consciously aware that they are living in a very severe economic crisis.

The inflationary environment causes savers to divert savings from paper assets to the safer harbor of hard assets such as precious metals, commodities, or even goods used for daily use.

In a free market, no shortages would exist. In fact, it is very unlikely any of the earth's resources would be used up.

My own preference is, first to allow market adjustments to take place.

Guido Hülsmann offers his conclusions: the current monetary institutions (central banks, paper money, and fractional-reserve banking) cannot be justified and should be abolished; such an act should be greeted as a restoration of monetary sanity and a humane economy.

"Gold's market premium to the official price was no small matter as it questioned the very fundamentals of the planned monetary system."

"If buying stuff is the way to promote recovery, then nobody can top the DC politicians."

The present crisis is not a crisis of capitalism but a crisis of state interventionism, and it is also a consequence of a mechanicist approach to economic problems.