For Rothbard, the Articles of Confederation were not, contrary to most historians, an overly weak arrangement that needed to be replaced by the more centrally focused Constitution. Quite the contrary, the Articles themselves allowed too much central control.
Boom-busts were a feature of markets. Under consumption caused the depression. WWII ended the Great Depression. All three Keynesian beliefs were inaccurate. Only the Austrian Business Cycle Theory got it right.
James Wilson (9/4/1742–8/28/1798) was one of the most important of America’s founding fathers, but is now one of the least known.
<a href="http://store.mises.org/Foreign-Policy-of-Freedom-A-P359C0.aspx"><img src="http://store.mises.org/images/ForeignPolicy_T.jpg" border=0 align="right"></a>From Ron Paul's historic new book: Noninterventionism is not isolationism. Nonintervention simply means America does not interfere militarily, financially, or covertly in the internal affairs of other nations. It does not mean that we isolate ourselves; on the contrary, our founders advocated open trade, travel, communication, and diplomacy with other nations. Thomas Jefferson summed up the noninterventionist foreign policy position perfectly in his 1801 inaugural address: "Peace, commerce, and honest friendship with all nations — entangling alliances with none." Washington similarly urged that we must, "Act for ourselves and not for others," by forming an "American character wholly free of foreign attachments."
From 1950 to 1980, Americans were indeed Losing Ground. Charles Murray’s book on social policy debunks welfare programs. The programs are the problem. It is not possible to design a wealth transfer program that will not produce net harm.
Mystery solved. I first heard about the deadly flu pandemic of 1918 in an obscure blues song from that era.
Americans define themselves as principled people of action.
