Foreword by Doug French The public’s understanding of what money is and its origins has devolved to the point where the government monetary authorities can now inflate with impunity, with the ultimate result to be the destruction of the division of labor undoing all of mankind’s progress to date. The average Joe and Jane must trust the wise men
According to the Socialist Party USA website , “In socialism, full employment is realized for everyone who wants to work,” because, “In a socialist system the people own and control the means of production and distribution through democratically controlled public agencies, cooperatives, or other collective groups. The primary goal of economic
Keynesian policies used to be all about building infrastructure, bridges to nowhere, and the like. Put people to work, replace private investment, prop up aggregate demand and all of that. Remnants of FDR’s New Deal are still standing, not to mention projects constructed by the Roman Empire. But Detroit’s new mayor Dave Bing is shooting and
Warren Buffett’s partner at Berkshire Hathaway Inc. Charlie Munger told students at the University of Michigan “You should thank God” for the bank bailouts. Without George W., Obama and Bernanke, civilization as we know it would have gone down the drain, making a comparison to Weimar Germany. “Hit the economy with enough misery and enough
According to the Socialist Party USA website , “In socialism, full employment is realized for everyone who wants to work,” because, “In a socialist system the people own and control the means of production and distribution through democratically controlled public agencies, cooperatives, or other collective groups. The primary goal of economic
“I hate to say it, but before TV people spoke better and were better read than we are,” Terence Winter tells the New York Times . “They were probably more literate.” What Winter, who along with Martin Scorsese, is an executive producer of HBO’s upcoming Broadway Empire , is referring to is, “Books, of all things, are prominent props in Boardwalk
Nevada Federal Credit Union has no use for depositor money . “The depressed economy has dried up lending opportunities that Nevada Federal normally has,” credit union CEO Brad Beal told the Las Vegas Review Journal . Nevada Federal members who only have CDs with the credit union will not be paid any interest. Those that do have other accounts,
The two government-created creatures to spur home ownership have turned into the largest homeowners in the U.S. of A. according to the New York Times . The GSEs combined portfolios were close to 164,000 at the end of March, a quarter where the entities took ownership of a home every 90 seconds. “Our business is the American dream of home
Yesterday two readers of the Wall Street Journal weighed in against hard money. Steve Connor rejects the idea of a gold-backed dollar because the supply of gold can’t be controlled, using the hypothetical example of “a technological breakthrough enabling inexpensive extraction of gold from seawater,” with the result being a a gold-water
The National Credit Union Administration has packaged $50 billion of distressed securities for sale as $35 billion in government guaranteed bonds in order to bail-out the non-profit sector of the banking industry. Bloomberg reports , “Credit unions in the U.S. may absorb as much as $9.2 billion in losses over the next decade as the industry
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.