The world doesn't follow predictable patterns based on averages of long-term probability. Ordinary people apparently know this better than statisticians do.
While searching through my apartment after a tragic fire, under soot and ash, I found these “lost” Rothbard lectures, recorded at NYU in 1979 and 1980.
Loose monetary policy can appear to work so long as real wealth is expanding. But money expansion weakens wealth creation over time, eventually leading to slower growth, lost wealth, and economic busts.
Economic valuation, as such, is only meaningful when related to the possible employments of an economic good, and such employment can only be carried out by acting human beings.
Brian Maher of the Daily Reckoning quotes Murray Rothbard and me in his incisive critique of Modern Monetary Theory (MMT), which has lately been embraced by proponents of the "Green New Deal."
Marginal tax rates in the 1950s and 1960s don't reflect how much wealthy taxpayers actually paid in taxes. They paid far less than Alexandria Ocasio-Cortez thinks.
