U.S. Economy

It's been spend, spend, spend ever since. And as credit lines increased, so did the size of the ships.

Rothbard was a man of great achievement and immense scholarship, an indefatigable worker, and the most significant anarchist writer then living — i

Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.

Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.

The Mises Circle in Manhattan; 22 May 2010, New York, New York. PPT

He offers a Kantian justification for political economy in the style of Buchanan; and he maintains that this view of things is at the root of the American Republic. Readers of a libertarian bent will not be fully satisfied; but Roth's carefully argued book deserves, and rewards, close study.

"The risk associated with loan obligations are shifted to the taxpayer. Consequently, the act removes obligation and creates a moral hazard with the creation of a virtual backstop."

"There is no contradiction between doing good and doing well."

"These guys weren't just taking a position and keeping their fingers crossed, they had to keep feeding their bets, even when the financial world (and their investors) thought they were nuts."

From Part I of A History of Money and Banking in the United States: The Colonial Era to World War II: “The History of Money and Bank