And Now, For Some Pedantry

Tom Woods refutes a (possible) straw man:

(2) He thinks private ownership is a form of “central planning.” (This guy has his own show?) Central planning involves (1) the direction of resources in the absence of property rights, or (2) orders handed down to resource owners by non-owners. Neither applies in the case of . . . → Read More: And Now, For Some Pedantry

My proposal to Congressman Joe Heck

“The art of economics consists in looking not merely at the immediate, but at the longer effects of any act or policy; it consists in tracing consequences of that not merely for one group, but for all groups.” -Henry Hazlitt

Congressman Heck is trailing Mitt Romney in the valid solutions . . . → Read More: My proposal to Congressman Joe Heck

Keynes vs. Hayek

Freidrich Hayek and the Austrian school of economic policy argue for a laissez faire approach to the economy – emphasizing individual actions and criticizing government intervention. John Maynard Keynes acknowledged that economies could, over time, correct themselves, but argued that government had a responsibility to intervene and stimulate demand when the economy is in . . . → Read More: Keynes vs. Hayek

Austrian Tautologies: Altruism

Here’s a fun argument:

As far as I can tell, we are left exactly where we were after that first essay. No altruism to be found. If you made a “sacrifice” it was, by direct virtue of your action, “worth it to you” (at the time of the action) or you would not have . . . → Read More: Austrian Tautologies: Altruism

How to Argue Poorly

In which John Case critiques the Austrian School of economics:

Its principles are as follows:

1. The business cycle is a completely virtuous cycle. Slumps are the price we pay for booms. Recessions are the just punishment for the excesses of previous expansions. The fact that the rich reap the rewards regardless, and the . . . → Read More: How to Argue Poorly

A Monetary Policy that Encourages Malinvestment

Thorsten Polleit, of the Frankfurt School of Finance & Management, penned an article in The Free Market newsletter of the Ludwig von Mises Institute titled “The Many Names for Money Creation.”

It starts off almost humorous, reading more like an interesting, mood-lightening sidebar to a banner article titled “We’re Freaking Doomed (WFD)!” as he . . . → Read More: A Monetary Policy that Encourages Malinvestment

Mannkal Economic Education Foundation

For those goldbugs of a libertrian/Austrian economics bent (most seem to be, funnily enough) this organisation is likely to be of interest. Their mission:

We aim to strengthen the free market system in Western Australia and Australia, by promoting ideals of voluntary co-operation, choice, personal rights, limited government and responsible resourcefulness of individuals.

The . . . → Read More: Mannkal Economic Education Foundation

Gold As The Truest Measure Of Value – Interview With Anthem Blanchard

Welcome to the RunToGold Podcast. This is Trace Mayer. I have a special guest with us, Anthem Blanchard.

Trace: Welcome, Anthem.

Anthem: Hi, Trace.

Trace: Now Anthem is currently CEO of nuMetra, which is a federated CDN (a content delivery network) and they are working on a new, innovative approach to transferring bandwidth, . . . → Read More: Gold As The Truest Measure Of Value – Interview With Anthem Blanchard

Money Supply Flood to Drown US Economy

I can tell you the exact date (Saturday, February 13, 2010) that I saw that had a “guest Editorial” by Dr. Ron Paul, who I admire because he is the only Senator in Congress whose economic philosophy is the Austrian school of economics, which, in fractured German, is “ein Austrian economischer”, which I . . . → Read More: Money Supply Flood to Drown US Economy

Walter Block at Columbia

It’s not every evening that you are able to pack a room full of a hundred libertarians on the Upper West Side of Manhattan, let alone at the bastion of leftism that is Columbia University.  But tonight was different, as Loyola Professor and Columbia alum Walter Block was on campus, leading a spirited lecture . . . → Read More: Walter Block at Columbia