Intellectual freedom cannot exist without political freedom; political freedom cannot exist without economic freedom; a free mind and a free market are corollaries. – AYN RAND
After President Nixon’s gold default in 1971, many people advocated a return to the gold standard. One argument has been repeated: consumer prices are rising. While this is true, it wasn’t compelling in the 1970’s and it certainly doesn’t fire people up today. Rising...
I write often about inflation, and often emphasize that it is not about rising prices. It is important that we define our concepts correctly. Inflation is monetary counterfeiting. Here is a quick graph I made to underscore the point that although the quantity of...
History shows that, whenever financial institutions, whether domestic or global, have been allowed to develop freely, the results have been far more satisfactory than those from government-designed schemes.
Credibility at the Fed is about subtleties and about perceptions, as opposed to reality.
William Jennings Bryan, the most stalwart enemy of both private currency and currency monopoly since Andrew Jackson, helped to create a currency monopoly far more powerful than any that Jackson could ever have envisaged, and far more capable of gratifying Wall Street, at the expense of the rest of the nation, than Wall Street alone, left perfectly free from government controls, could ever have devised.
Business is moral because our lives and well-being depend on it, and businesspeople are heroes and moral creators who deserve, not our disdain and criticism, but our thanks.
An excerpt from the introduction of Money, Banking, and the Business Cycle.
By appeasing the protestors, the first moral principles the Sainsbury’s manager conceded was the right to liberty.
To argue that foreign takeovers of Canadian companies are of “no net benefit” is nonsensical.
An employer is not hiring people in order to acquire dependents and become their meal ticket. He is hiring them for what they produce.
Why did the Federal Reserve’s monetary policy of price level stabilization in the 1920s result in the Great Depression of the early 1930s?
If we want to enjoy lower prices and better quality products and services, whether in air travel, cell phone service, health care, or anything else, the solution is to stop the government from trying to manage markets and to make them free instead, thus increasing competition.
I believe that the real cause of the financial crisis is philosophical. We got into this mess through what I call ‘the free-lunch mentality.’
Free market benefits aren’t only measured in dollars and cents.
It is the government efforts to “moderate” capitalism and to make markets “fair” that create the unfairness they claim to alleviate.
Capitalism creates through freedom; the state destroys via regulation; capitalism gets the blame.
You can always keep anything old, clunky and inefficient still in business, if you are willing to pour unlimited amounts of the taxpayers’ money down a bottomless pit.
A tired old recipe for global communism in 21st century pseudo-academic clothing.
Rather than asking the source or origin of that wealth — production or plunder –the egalitarians like Thomas Piketty merely see that some have more wealth than others and condemn such an “unequal distribution,” in itself.
Nobel Prize-winning economist Gary Becker was internationally renowned within the economics profession, but was not nearly as well known among the general public as he deserved to be.
Too many of today’s “educators” see students as a captive audience for them to manipulate and propagandize.
There are inequalities everywhere. According to the Bureau of Labor Statistics, Asian men and women have median earnings higher than white men and women. Female cafeteria attendants earn more than their male counterparts. Females who are younger than 30 and have never been married earn salaries 8 percent higher than males of the same description.
When the former Soviet Union collapsed almost 25 years ago, most global strategic forecasters assumed that the U.S. would adapt pragmatically to her new status of sole world superpower. Instead she has pursued a variety of misguided nation-building adventures and has...
If you put $1,000 in your piggy bank in 1960 and took it out to spend in 2000, you would discover that your money had, over time, lost 80 percent of its value.
The principle here is that we need to look to greater economic freedom, not greater government intervention, as the path to economic improvement for everyone, especially the poor.
Many economists, politicians and pundits assert that median wages have stagnated since the 1970s.
The foundation of BB&T’s success is its principles.
Reducing investors’ incentives to take risks is reducing the jobs their investments are likely to create.
One of the biggest, and one of the oldest, taxes is inflation. Governments have stolen their people’s resources this way, not just for centuries, but for thousands of years.
Why does anyone use bitcoin and what accounts for its popularity in some countries and industries?
Another view on Bitcoins.
Risky as this new currency may be, I still trust it more than I trust politicians.
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