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Booms and BustsWorld History
Central banks were already fueling artificial bubble growth and malinvestment in tech firms. Then the lockdowns sped up the trend even more.
Rothbard provides three main reasons why Irving Fisher’s equation of exchange—which underlies the monetarist quantity theory of money—is useless.
The winner doesn’t represent “the nation.” There is no consensus. We’re not coming together “as a people.” These tired slogans should now strike every intelligent person as nonsense.
The current pandemic environment has opened up new approaches to schooling such as co-ops, learning pods, and unschooling.
Booms and BustsMonetary Policy
What matters is not whether the emergence of a bubble is associated with price rises but rather the fact that the emergence of a bubble gives rise to nonproductive bubble activities.
The brutal rejection of capitalism in favor of socialism by African politicians at independence was largely due to a deep-seated misconception that equates capitalism to colonialism.
Fighting erroneous socialist doctrines is not a special interest of a single class but the cause of all; everyone would suffer under the limitation of production and of progress entailed by socialism.
A repeated pattern of close elections accompanied by threats of violence (or actual violence) is a sign that something is wrong with a nation's political system.