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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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How 1936 Consolidated the Progressives’ Triumph in 1913

Written by Gary North on October 25, 2014

fdr

Politically conservative Americans and libertarians generally agree on the worst year of the 20th century: 1913. In 1913, three major events took place. First, Americans were informed that a constitutional amendment establishing an income tax passed. That was a lie. It did not pass. But the Attorney General of the United States announced that it […]

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Walter Block: Austrian Economics’ Footnote Machine

Written by Gary North on September 27, 2014

walter-block

Walter Block is a professor of economics at Loyola University in New Orleans. He has been an active participant in the libertarian movement for over 40 years. Within the libertarian camp, he is by far the most prolific in academic journals. Nobody else comes close. He has published something in the range of 450 journal […]

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