Gary Galles writes in Mises Daily Wednesday:
Political dependence and economic dependence are two very different things. Political dependence is fostered by coercion and monopoly power, but economic dependence is simply a choice we make when we especially like one thing more than the alternatives.
Arguably the best single, currently available measure of the entire public's payoff from economic activity is real disposable income per capita.
"Short of a political union, I find it very difficult to foresee the euro holding together in its current form," Greenspan told the BBC's Mark Mardell on Sunday.
Readers of this blog may remember previous posts about George R.R. Martin’s fantasy epic A Song of Ice and Fire and its TV adaptation, Game of Thrones. Carmen Dorobăţ and I have recently collected our writing into a forthcoming book chapter, available for free.
Lew Rockwell: The modern institution of the presidency is the primary political evil Americans face, and the cause of nearly all our woes.
In 2001, the Mises Institute published Reassessing the Presidency: The Rise of the Executive State and the Decline of Freedom, by John V Denson, which examines the role of the US presidency in warmaking, police powers, and a variety of attacks on private property and human rights.
If the first issue is any indication, they will live up to their promise of a "bolder and more robust version of what you have known for decades."
When a central bank devalues a currency, it is often said that the devaluation will help exporters, and thus the whole country, as a result. But this simplistic analysis ignores the many downsides of inflating the currency.
Now that the gross federal debt has surpassed $18 billion—six times the amount that troubled us back in 1990—we can clearly answer the two questions posed by the symposium's organizers: yes, a large and growing federal debt does matter; and no, we can do nothing about it.
