By helping to cut the dollar’s tether to gold, Volcker helped Washington’s politicians engage in perpetual fiscal profligacy.
If you approach Austrians economics from a Marxian-style dialectic, as Janek Wasserman does, then you will miss the entire point of the school of thought and its contribution to the science of economics.
An excerpt from the Introduction to How to Be Profitable and Moral By Jaana Woiceshyn.
If millennials and others want to wage war against government favors and crony capitalism, I’m with them 100%. But I’m all too afraid that anti-capitalists just want their share of the government loot.
The ethics of private enterprise and the morality of the market require both a preaching and a practicing of a respect for others’ individual rights to their property and to the rule of voluntary agreement in all transactions, even when market outcomes are not always favorable to oneself.
The best aspect is that it keeps intact 90 percent of the old NAFTA; the worst is that what is mostly new and unique in USMCA is protectionist and economically destructive.
Wealthy capitalist Andrew Carnegie (1835-1919) was an indefatigable steel tycoon—and he was also intellectual.
I know that it’s good to have alternatives to government-created currencies. The dollar’s value is only backed by politicians’ promises. I sure won’t trust those.
Your building your own deck would be worthwhile only if your cost of doing so is less than the cost of having someone else, such as Jones, build it for you.
To consume, men must first produce.
The Great Depression was not one, but four consecutive depressions that Professor Hans Sennholz has labeled as four “phases”: the business cycle; the disintegration of the world economy; the New Deal; and the Wagner Act.
By removing the market’s solution to collapsing banks, this unraveling forced electorate-sensitive governments to take up the residual risk and backstop the financial system that Scottish banks themselves so effectively regulated in the past.
Say’s Law of Markets already included the answers to the questions against free markets with which the Keynesians attempted to challenge the efficacy of capitalism a century later.
A “hostile” corporate raider can only buy shares that others voluntarily sell.
The coherent and correct case for free trade is, again, a case for unilateral free trade, one that applies to each country individually (with exceptions for isolated circumstances such as national defense).
Business, the activity of producing and trading goods and services, demands a great deal of moral virtue, and businesspeople are not lowly materialists but moral creators.
Steven Kates refutes Keynes’s caricature of the classical economists. Ultimately it is always goods that are traded for goods. Say’s Law, properly understood, explains both what causes unemployment and how to solve it..
Ronald Reagan once remarked that the nine most terrifying words in the English language are: "I'm from the government and I'm here to help." Similarly, the financial economist Campbell Harvey recently wrote that the four most dangerous words,...