Global Economy

Under free trade, and without politically oriented government-monopoly militaries, no country would be able to harm another. But with the existence of politicians "leading the country," it's a different story.

Before the financial crisis, Portugal, Italy, Ireland, Greece, and Spain had been able to finance their deficits at artificially low interest rates. They all assumed that their governments would be bailed out by other countries of the eurozone in order to preserve the holy European Union.

The number of inhabitants in a state depends on their means of subsistence. The means of subsistence depend on the method of cultivating the soil, and this method depends chiefly on the taste, desires, and manner of living of the property owners.

It is amazing that this system, jerrybuilt at Bretton Woods in 1944, is not only still tolerated but regarded as practically sacrosanct. Its paternity was not auspicious. Its two fathers were Harry Dexter White of the United States and Lord Keynes of England.

Murray Rothbard, in his life, was known as Mr. Libertarian. We can make a solid case that the title now belongs to Walter Block, a student of Rothbard's whose own vita is as thick as a phone book, as diverse as Wikipedia.

Recorded at the Mises Circle at Furman Universityon November 13th, 2010.

When governments try to confer an advantage to their exporters through currency depreciation, they risk a war of debasement. In such a race to the bottom, none of the participants can gain a lasting competitive edge.

Central bankers cannot be trusted with the printing press, especially when there is no formal check on their inflationary policies. It is no coincidence that gold is hitting such heights as investors the world over hunker down for what may very well be a collapse of the dollar system.

In 1824, the Spitalfields Act of wage control for silk weavers was repealed after being in force for 50 years. The act was essentially a disaster that devastated the industry and the workers.

Weighing in on the side of John Locke, not only on interest rates but also in a general and comprehensive vision of economic laissez-faire that even surpassed Locke, were two brothers, Dudley and Roger North.