Mises Wire

Conservatives appear to be increasingly in favor of using the power of the state to force their agenda. But what happens when the state they favor is turned against them?

The fact that politicians, central bankers, and “too big to fail” bankers all oppose a gold standard is a tacit admission that hard money would serve as an effective constraint on their activities.

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After quoting H.L. Mencken’s famous quip, “Nobody ever went broke underestimating the intelligence of the American people,” Andrews wonders, “I don’t know if old H.L. was a bookmaker, but he would have been a great one if he had been.”

The critical question is this: Is the Libra really good — or sound — money? Unfortunately, this question cannot be answered in the affirmative.

In every trade, a person is giving up something he values less for something he values more. Every time a shopper buys any item from another person, he has improved his standard of living, and so has the seller.

Since 1900, the number of American farms in operation has fallen 63 percent. Meanwhile, the American standard of living is far beyond what the farmers of yesteryear could have imagined.

An estimated 78 percent of the UK’s working population are unable to make ends meet between pay-days. Neo-Keynesian policies are to blame.

The differences between government stats and reality are a problem, especially since these estimates are used to make policy.