By Russell Lamberti Robert Blumen has an excellent post at Mises.org titled “Say’s Law and the Permanent Recession” which we linked to last week. Blumen’s basic case is that the US economy has effectively been in a prolonged recession since around the turn of the century. This article is not about Blumen’s “permanent recession” thesis per [...]
By Russell Lamberti This week, The Week ran an opinion piece by John Aziz which argues that America (and all other nations for that matter) should keep borrowing until investors no longer want to lend to them. To this end, it is argued, the US should scrap its debt ceiling because the only debt ceiling it needs [...]
Deur Frédéric Bastiat (en Piet le Roux) In 1845 het die groot Franse ekonoom, Frédéric Bastiat (1801-1850) ‘n beroemde petisie aan die Franse regering geskryf, waarin hy ‘n handelsboikot teen die son versoek het: die petisie van die kersmakers. Dit was ekonomiese satire op sy beste. Bastiat het die argumente van die proteksioniste in die regering op ‘n baie [...]
By Jorg Guido Hulsmann
Today the ideas that Mises had painstakingly refuted have run their course. Inflationism, socialism, and statism have spelled misery, corruption, and chaos. Reading Mises enables us to understand this world, and it helps us to see the road that leads out of these quagmires.
The US Federal government has been forced to shut down non-essential services and furlough around one third of its employees as of 1 October 2013. The partisan infighting in the US Congress means that once again it has failed to pass a formal annual budget, legally requiring a mass shutdown of government services until the [...]