How We Know – Epistemology On An Objectivist Foundation

Harry Binswanger’s How We Know – Epistemology On An Objectivist Foundation (TOF Publications) is aimed at exposing the root causes of bad epistemology, and bringing clarity to the crucial questions: What is knowledge? How is it acquired? How is it validated? To a large extent, the material that Binswanger has presented was originated by Ayn Rand.

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A Monetary Policy Primer, Part 6: The Reserve-Deposit Multiplier

The multiplier’s significance to monetary policy is, or used to be, straightforward: it indicated the quantity of additional bank deposits that monetary authorities could expect to see banks produce in response to any increment of new bank reserves supplied them by means of either open-market operations or direct central bank loans.

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The Myth of the Myth of Barter

There is, after all, at least one impulse among humans that’s more deep-seated than their “propensity to truck, barter, and exchange.” I mean, of course, their propensity to let themselves be thoroughly bamboozled.

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The Curse of Frankenstein

Ever since Mary Shelley wrote the original Frankenstein story in 1818, it has stood as the symbol of a false and destructive idea: the idea that science and technology will inevitably produce monsters. The story of Frankenstein has come to be used, not as a criticism...

The Curse of Frankenstein

Ever since Mary Shelley wrote the original Frankenstein story in 1818, it has stood as the symbol of a false and destructive idea: the idea that science and technology will inevitably produce monsters. The story of Frankenstein has come to be used, not as a criticism...

“Look at ’em quit!”

At the end of the classic Western, “Rio Bravo,” when the bad guys came running out of a blown-up house holding up their hands in surrender, John Wayne’s sidekick couldn’t help but exclaim “Look at ’em quit!”. These days,...

The Philippines Market: Flying off the Radar Screen

Have you ever noticed how little you hear about the Philippines market in these days? When was the last time you heard about a hot stock tip from that country? The Philippines contains a lot of people, about 72 million in fact, and it also has reasonably good...

Breaking the Tokyo Banks?

Back in 1998, the big question in Japan was which, if any, of Tokyo’s big banks could escape collapse. Burdened by massive, non-performing loans, and holding assets (like Tokyo real estate) that had plunged in value, Japan’s big banks were in a serious...

An Insolvency that is Good for Thailand

Last Wednesday, 15 March 2000), a Thai bankruptcy court declared that Thai Petrochemical Industry Plc., (TPI) was insolvent. Thai investors, while hardly jubilant, were likely to be relieved about one thing: a Thai company can no longer refuse to pay back creditors...

Rules of Rational Communication

Do not interrupt. Allow your partner to finish what he is saying. When there is a pause, politely ask, “Are you finished?” Actively listen. In other words, think about what she is saying. Look for evidence of honest misunderstandings. They are almost...

They Call them “Warning Labels,” Don’t They?

“They wanted to shut down ‘Big Tobacco.'” Thus explained a juror who agreed to award $20 million in punitive damages against Philip Morris and R. J. Reynolds. Now, get this. The plaintiff, now dying of cancer, began smoking at 13 — several...

Bill Gates Failed to Make a Moral Self-Defense

Locke said that the only way Gates can fight government prosecutors is for the Microsoft founder to “assert proudly his right to his own existence — which means: the right to do business not as a public servant but as an individual with inalienable rights.”