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Progress Makes Genius Routine

Written by Gary North on May 16, 2015

standing-on-shoulders

We forget about one of the great advantages of intellectual progress, namely, that people of above-average intelligence can perform better than geniuses did a century earlier. Think of a graduate of MIT or CalTech today. I do not mean somebody with a Ph.D. I mean somebody with a bachelor’s degree. He is better at physics […]

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Mises University Seminar: 2015 Registration

Written by Gary North on May 9, 2015

mises-institute-seminar

It is not easy to get accepted to the free Mises University summer seminar for college students. The key word is “free.” You know the fundamental law of economics: “At zero price, there is greater demand than supply.” A corollary is this: “When the price falls, more is demanded.” This is a $2,000 value. There […]

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A Letter to David Stockman

Written by Gary North on March 14, 2015

david-stockman

Dear David: I want to let you know just how glad I am I’m not in your shoes. Responsibility goes with the territory. You oversee a lot of territory. You obviously have a lot of spare time on your hands, and so you have started a website. It gets a lot of traffic. The site […]

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Free Market Money vs. FED and Greenbacks

Written by Robert Murphy on March 12, 2015

greenbacks-and-gold

For more than a century, skeptics of government power have rightly focused on the damage caused by interventions in money. As the market’s classic commodity monies have been displaced by unbacked State-issued paper, libertarians — particularly those versed in Austrian economics — have disparaged fiat currencies and championed commodity-based money, especially gold and silver. Unfortunately, […]

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FED: “Recessions R Us”

Posted on March 12, 2015

fed-recession

By David Stockman So now the third immense financial bubble of this century has been fully inflated. And there are abundant signs that what we really have is a Great Immoderation—–a baleful, not beneficent, development that can be laid exactly at the door step of the central bank. Specifically, yesterday’s abysmal data on the soaring wholesale sales/inventory ratio (I/S ratio) is not […]

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Ludwig von Mises: The Comeback Kid

Written by Gary North on February 2, 2015

mises

In my article on “Civilization and the Faculty Lounge,” I told the story of how New York University’s economics department treated Mises with contempt. The economics department of the University of Chicago did the same with F. A. Hayek, a soft-core version of Mises. NYU was a third-tier school. Mises was a greater economist than […]

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“Illegal Immigrants Steal Americans’ Jobs.”

Written by Gary North on December 17, 2014

american-jobs

This is another cliché of protectionism. I keep adding more, here: http://www.garynorth.com/public/department162.cfm The logic of economics applies across borders: county, state, and national. Deny this, and you deny economics. Conservatives deny economics. They promote tariffs and import quotas across national borders, but not state and county borders. Ludwig von Mises had a word for this: […]

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When Hayek Abandoned Mises

Written by Gary North on November 4, 2014

mises-hayek

In June 1960, I received in the mail two books: Frederick Hayek’s The Constitution of Liberty and Ludwig von Mises’s Human Action. I had ordered them from the Foundation for Economic Education. I paid $7.50 for Hayek’s book; I paid $10 for Mises’s book. In 1960, that was the equivalent in today’s money of about […]

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On Replacing the Keynesian Establishment

Written by Gary North on November 1, 2014

nisbet

One of the fields of historical study is the history of ideas. In almost all cases I have ever read, an author concentrates only on the ideas; he does not describe the historical circumstances in which a particular idea faded, or triumphed, or never had any effect at all. Robert Nisbet once had a great […]

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