In a few days the British Conservative Party will select a new prime minister from within its ranks. The new PM will have a short-lived opportunity to select new ministers. But more importantly, due to [more…]
Following is a plea to Germany–The war is over and has been for three-quarters of a century. It’s time to stop prostrating yourself for the supposed “good” of Europe. It’s time to take complete control [more…]
The World War II project to build an atomic bomb is seen by many as a template for government action to solve what appear to be national economic problems beyond the scope of private enterprise. [more…]
A recent essay on Mises Wire triggered quite a bit of discussion among a group of Austrian school economists. Paul H. Kupiec and Alex J. Pollock’s Who Owns Federal Reserve Losses and How Will They [more…]
In his recent essay for Goldmoney.com, titled Building a Better Banking System, Alasdair Macleod agrees with the Austrian view that sound money would help prevent a looming “combined currency, asset, and banking crisis”, yet challenges [more…]
Well, currency debasement is pretty bad, as a few key statistics will reveal, but first some background. At the Bretton Woods Conference in 1944 the US agreed that it would redeem dollars for gold at [more…]
What almost everyone calls “inflation” is really a rise in the general price level. OK. But the real definition of “inflation” is inflation of the money supply. A rise in the general price level is [more…]
Mention the term “legal tender” in polite company and most people will resemble a deer in the headlights. In simple terms legal tender laws grant monopoly status to money, usually fiat, produced by government; i.e., [more…]
In the latest New York Times Book Review Wes Enzinna reviews Michael Shellenberger’s San Fransicko: Why Progressives Ruin Cities. Mr. Enzinna, who is critical of the book, acknowledges that one in one hundred of San [more…]
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