Free Markets

But if investment-conference attendance is any indication, the price of gold and other commodities has a long way to go — up.

On the surface, as the war came to an end, there seemed to be as little hope as ever for the individualist, free-market cause as there had been during the war.

The Fed has been creating money at a phenomenal clip all year with the M-3 (that government no longer reports, but economist John Williams does on Shadowstats.com) growing at a 14-percent rate, a 34-year high.

The extent those costs harm the domestic auto industry illustrates what happens to industries in which worker benefits exceed worker productivity. No market participant consistently gambles with economic law and wins, and the UAW has been gambling for a long time.

If a regime of complete economic freedom be established, social and political freedom will follow automatically; and until it is established neither social nor political freedom can exist.

Hunter Lewis's excellent book differs from nearly all other books on economics. Most books defend a particular point of view: a work by Duncan Foley, e.g., will be much more favorable to Marxism than one by Ludwig von Mises.

I blogged elsewhere the “Palmer on Patents” post below a couple years ago.

No doubt, the costs of a return to "sound money" — that is ending the government money-supply monopoly and returning the supply of money to free-market forces — would most likely be substantial. It would most likely entail a severe loss in output and employment, given that inflation has been allowed to have a say in the allocation of scarce resources for decades.

We do know, however, that free people are better able to adapt and prosper than unfree people, in whatever situation the future holds.

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