World History

As I see it now, democracy is not to the advantage of the demos, it is to the advantage of the power elite.

Is there any reason a reader should place any more confidence in the work of an historian than in the work of an historical novelist? The answer is that everything depends on what historian we're talking about, what novelist we're talking about, and what kind of historical fiction we're talking about.

"The film brilliantly portrays how the Right prepares the way for the Left — in both the United States and Russia."

In 1956, Mises showed how the supposed failures of the market economy were failures of the state and documented the traits of anticapitalism. In 2009, the facts have changed but the message remains the same.

"Just like Obama's and FDR's 'deals,' John Law's prescription for what ailed France required no sacrifice."

If the current level of output and employment is made to depend on inflation, a slowing down in the pace of inflation will produce recessionary sym

But if you follow the Austrian recipe of allowing liquidation of bankrupt firms and debt, allowing prices to fall without monetary inflation, not propping up employment or subsidizing unemployment, and not discouraging hoarding, you will end up with the quickest possible recovery and minimize the magnitude of economic pain.

Incessant creation of fiat money by government central banks will serve to engender more speculative booms to lure investors into financial ruin.

Much like the US's decision to save Bretton woods by coercing South African gold sales, today's governments will resort to ever more authoritarian measures rather than allowing their pet institutions to fail.

Think of it!