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Franklin Roosevelt’s Big Bank Bailout: March 6, 1933

Written by Gary North on October 15, 2016


You grew up on this story: “Franklin Roosevelt saved capitalism from itself.” This is one of the major myths of American history. Here is how we should understand the New Deal: Franklin Roosevelt saved the big bankers from their depositors. To understand the truth, you must understand what is never mentioned in the textbooks. Roosevelt […]

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Recessions, Elections, and Republicans: 1945-2016

Written by Gary North on September 17, 2016


The following chart surveys industrial production in the United States. It was produced by the Federal Bank of St. Louis. The gray vertical bars mark recessions Below, I list those recessions that took place in, or shortly before, Presidential election years. As you will see, except for the 1980 Presidential election, recessions since 1945 have […]

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Legitimacy and Self-Government

Written by Gary North on September 17, 2016


I have been writing about legitimacy for decades. I recently republished an article I wrote on this in 1997. Liberty flourishes under this environment: self-government under law. Individuals apply the legal principles to their own situations. The general rule is: “Just say no.” When self-government declines in any government — church, family, or state — […]

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Milton Friedman on Non-Compliance with the State

Written by Gary North on September 17, 2016


In the summer of 1962, I read Milton Friedman’s essay, “Is a Free Society Stable?” It was published in a campus quarterly journal, New Individualist Review. A group of students at the University of Chicago published it. It remains the best campus journal I have ever read. It ceased publication after seven years: April 1961 […]

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Bribery and Judgment

Written by Gary North on July 23, 2016


And thou shalt take no gift: for the gift blindeth the wise, and perverteth the words of the righteous (Ex. 23:8).  The context of this law is judgment rendered in a court. Judges are not to render false judgment in favor of a poor man (v. 3) or against him (v. 6). People are not […]

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The Declaration of Independence: America’s Greatest Ad

Written by Gary North on July 4, 2016


On this day 240 years ago, New England’s most famous independent wholesaler, John Hancock, and Congress’s stenographer, Charles Thomson, signed a parchment. We celebrate that signing annually, often by setting off low-tariff fireworks imported from China. Most Americans know little about the background of this event. The details they recall from a high school textbook […]

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A Government Employee Calls Me Out

Written by Gary North on July 2, 2016


I posted a video on high-income retired state employees. A self-righteous, self-pitying government employee was incensed. You cannot be talking about me or any of my fellow government victims. In 2003, a hundred or so of us, wotking for the Superintendant of Document, the US Government Printing Office, the Bookstore Branch, were pushed out of […]

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Should We Legislate Immorality?

Written by Gary North on June 18, 2016


“You can’t legislate morality!” How many times have you heard that one? Too many, I’ll bet. Have you ever sat down and thought through the implications of this humanist slogan? Does anyone really know what it means? We all know how it’s used: to try to reduce support for a proposed law that the complainer […]

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Airbus: Carving Up a Keynesian Turkey

Posted on June 11, 2016


The Big White Elephant is on life support but not for much longer. Airbus Industries, its parent EADS and the governments who continue to subsidize its production can no longer justify its continuity at the expense of the European tax payer. A rapidly shrinking customer base and less than a hand full of customers who […]

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