While some countries in Europe are showing signs of lifting all restrictions soon, Ireland’s so-called leaders are telling citizens it cannot be guaranteed that they’ll even be able to holiday in their own country this summer.
"Any concept of average price level involves adding or multiplying quantities of completely different units of goods, such as butter, hats, sugar, etc., and is therefore meaningless."
Fekete was one of the few old Europeans to recognize the central role of money: on the positive side as a means of amicable division of labor, on the negative side as a casualty and lever of political intervention.
US government agencies like the FBI remain incapable of bringing foreign online scammers to justice. Fortunately, in their place, internet “vigilantes” have answered the call to action.
The fact that gold can be used for, say, industrial purposes does not mean it has "real value" while more intangible goods and services have none.
If Europe wants to build wealth for its poorest members, it needs private entrepreneurship. But entrepreneurs need exactly the opposite of the Keynesian plan for building a European superstate.
Rising unemployment is just one outcome of minimum wage mandates. Capital accumulation and labor productivity will also be hurt.
Normally the boosters of renewable energy point with pride to Texas, yet when wind collapsed during the deep freeze, suddenly even its biggest fans admit that nobody ever thought it could do the same job as natural gas.
Rothbard recognized that money and exchange could not develop without first establishing private property. So Rothbard also recognized that it was important to develope theories of how private property might come about.
Here's a likely reason the Fed has chosen to hide its data on government deposits: the explosion of Treasury deposits at the fed “fuels … suggestions that the Fed is directly financing the government [and] foster[s] uncertainty about central bank independence.”
