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There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved.
Ludwig von Mises
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Monthly Archives: January 2012
We are governed by children
If any further evidence we needed that we are ruled by children, here it is. If we had an effective opposition they’d be telling us that Cameron has more important things to be doing than worrying about the price of … Continue reading
Quote of the day
Socialism, like the ancient ideas from which it springs, confuses the distinction between government and society. As a result of this, every time we object to a thing being done by government, the socialists conclude that we object to its … Continue reading
Posted in Uncategorized
Tagged Frédéric Bastiat, government, libertarianism, socialism, society
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Can you build a toaster from scratch?
“Left to his own devices he couldn’t build a toaster. He could just about make a sandwich and that was it.” Mostly Harmless, Douglas Adams I, Pencil, simple though I appear to be, merit your wonder and awe, a claim … Continue reading
The failings of the dead tree press
It seems our beloved mainstream media can’t decide whether to ignore the EU dimension in British politics, or instead to invent an EU dimension when one doesn’t exist. Richard North, never to have spoken a kind word about the fourth … Continue reading
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Tagged bbc, blogosphere, EU, Mail, mainstream media, Telegraph
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I couldn’t have put it better myself
What is worse, the [Olympic] games are corrupt in moral terms because they rely on the coercive deployment of resources by government. Whether or not we like watching people hop, skip and jump, we are forced, on pain of going … Continue reading
Austrian ideas on the BBC
One of the consequences of the housing bust was a renewed interest in the Austrian school of economics – sales of Hayek’s The Road to Serfdom soared, and once marginalised ideas are now becoming reconsidered. We naturally seek alternative explanations when things go tits … Continue reading
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Tagged Austrian school, bbc, economics, Friedrich Hayek, Ludwig von Mises, the road to serfdom
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On Austrian economics
Most standard economics assumes that the relationships we are trying to understand can be captured by a continuous function that’s smooth and twice differentiable. What the Austrian analytics suggests is that life is not actually a continuous and smooth function … Continue reading
