Time Will Run Back - Henry Hazlitt - Mises Institute

Good arguments against central economic planning from Henry Hazlitt in 1966.

The U.S. should be careful that it does not follow in Russia's footsteps.

Time Will Run Back - Henry Hazlitt - Mises Institute

An Open Letter to Gary Becker re: Depressions - Robert P. Murphy - Mises Institute

I agree with Robert Murphy. He writes:

Ludwig von Mises and subsequent Austrians developed the theory that the business cycle is an unintended consequence of government intervention in the monetary and banking system. Specifically, the central bank (the Federal Reserve in the United States) pushes the interest rate down below its "natural" level by injecting new money into the banking system. This artificial stimulus sets in motion an unsustainable boom period of illusory prosperity.

During the subsequent (and inevitable) recession, resources are reallocated in light of the "malinvestments" made during the boom. Far from being "bad," the recession is part of the process of recovery, where entrepreneurs make the best of the untenable situation created during the boom. It is in this sense that Austrians say that recessions are a good thing. They are the recognition of the previous mistakes that entrepreneurs have made investing scarce resources, when they were misled by the distorted price signals reverberating from the Fed's interventions.

An Open Letter to Gary Becker re: Depressions - Robert P. Murphy - Mises Institute

Vox Popoli: Buckley was right

I agree with SarahtheCanucki, "The person who learns on their own...they are the ones whose opinion are truly worth noting, imo.", but I also puzzle with Alex, "how does one get around the societal demand for that piece of paper?"

Vox Popoli: Buckley was right

I Got My Start

This looks like a cool site. Maybe I'll post something here, but for now just following in Google Reader.

I Got My Start

Hoosiers For Fair Taxation: Was John F. Kennedy part of the tin foil hat wearing crowd?

Very interesting two-minute video.

Hoosiers For Fair Taxation: Was John F. Kennedy part of the tin foil hat wearing crowd?

How to Save Detroit [Mackinac Center for Public Policy]

Excellent advice to automakers from David L. Littman. He writes:

You reap what you sow. The consumer is the ultimate king. Consumers vote their hard-earned dollars in favor of producers and service providers, just as they cast preference votes for candidates to political office.

Thus, rather than petitioning Washington to be a tax agent for Detroit's account, it behooves auto execs to make their strongest case for lower corporate income taxes, less onerous corporate average fuel economy and environmental regulations, and an all-out effort to bring U.S. oil, natural gas and nuclear power to the market. Promoting these economic policies would enhance the U.S. economy at large as well as Detroit's prospects. Let's examine each one...

The economic world is a much more positive reality. Workers and firms who are eternally vigilant for the shifting demands of the marketplace are rewarded with expanded income, benefits and job opportunities. More dollars are voted their way. In other words, when sound economic principles are followed, the economy flourishes and we're all winners.

How to Save Detroit [Mackinac Center for Public Policy]

Change.gov: The Obama-Biden Transition Team | Economy -- Of the People, By the People

Just took Miss Rogue's suggestion and submitted my feedback to president-elect Obama on his proposed government jobs plan. I wrote:

Thanks for asking for feedback on the plan to save or create 2.5 million American jobs by 2011.

My feeling on the idea of creating jobs in the government sector is well-stated by the Virginia Rebel blog.

I encourage you to reconsider creating these jobs in the public sector and instead put policies in place that will encourage job creation in the private sector.

The Virginian Rebel: Emperor-elect Obama to Save Us From Unemployment, The Business Cycle

Government can only consume, it does not "invest." What they do not want to tell you is that this money has to come from somewhere. Instead of letting the masses of people decide what to do with their own money (i.e. what types of goods to produce), politicians in Washington have determined that what you really want is roads and bridges. This is not job creation, but a reallocation of money from the private sector to overpaid employees in the public sector. It will actually reduce employment. Whereas the private sector will pay employees close to their marginal productivity, the government pays well in excess of the productivity of the individual. Thus, given the same pool of capital to pay employees, the private sector will hire more and produce more goods.

Mon, 24 Nov 2008, 7:30 am EST

Change.gov: The Obama-Biden Transition Team | Economy -- Of the People, By the People

Twitter / missrogue

CARPE DIEM: Some Lessons From the Great Depression

Hoping (but not really expecting) this government takes this lesson to heart.

"The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes," Cole said. "Ironically, our work shows that the recovery would have been very rapid had the government not intervened."

CARPE DIEM: Some Lessons From the Great Depression

The Gun in the Room by Stefan Molyneux

"One of the most difficult – and essential – challenges faced by libertarians is the constant need to point out "the gun in the room." In political debates, it can be very hard to cut through the endless windy abstractions that are used to cover up the basic fact that the government uses guns to force people to do what they do not want to do, or prevent them from doing what they do want to do."

The Gun in the Room by Stefan Molyneux

Pro Libertate: Unwarranted Violence

William N. Grigg writes:

Every government function, no matter how mundane or apparently harmless, carries with it the implied (and often overt) use of lethal force against those who do not submit. Stefan Molyneux perceptively describes this as the principle of the “Gun in the room”: Whenever anybody refers to the supposed virtue of a given government undertaking, Molyneux sagely observes, the central question is not whether the end is desirable, but rather “whether I am allowed to disagree with you without getting shot.”

Pro Libertate: Unwarranted Violence

The Virginian Rebel: Emperor-elect Obama to Save Us From Unemployment, The Business Cycle

Words of wisdom from Virginia Rebel on the Obama job "creation" plan.

Government can only consume, it does not "invest." What they do not want to tell you is that this money has to come from somewhere. Instead of letting the masses of people decide what to do with their own money (i.e. what types of goods to produce), politicians in Washington have determined that what you really want is roads and bridges. This is not job creation, but a reallocation of money from the private sector to overpaid employees in the public sector. It will actually reduce employment. Whereas the private sector will pay employes close to their marginal productivity, the government pays well in excess of the productivity of the individual. Thus, given the same pool of capital to pay employees, the private sector will hire more and produce more goods.

The Virginian Rebel: Emperor-elect Obama to Save Us From Unemployment, The Business Cycle

Hat tip to Libertarian Republican.

Libertarian Republican: What libertarians and limited government conservatives are saying about Obama's Socialist Jobs Creation Program

Radio host jailed over couch - Homeland Stupidity

Michael Hampton writes:

Code enforcement activity has been on the rise nationwide with the failing economy reducing local governments’ revenues and local bureaucrats desperately trying to take money from anywhere they can get it, using any excuse...

When the laws are unjust, as the vast majority of today’s laws are, then a court of law will dispense injustice. Freeman’s protest of the injustice done to him has not gone unnoticed. Many liberty activists have said the court’s action has motivated them to get even more involved.

“The tyranny was stifling,” Everett said. “It’s the kind of experience that makes you rethink everything. And just to be clear, I don’t mean rethinking everything in terms of backing off. Quite the opposite.”

Radio host jailed over couch - Homeland Stupidity

The Daily Dish | By Andrew Sullivan (November 21, 2008) - Mental Health Break

Bruce Lee plays ping-pong, with very "unconventional" paddle.

The Daily Dish | By Andrew Sullivan (November 21, 2008) - Mental Health Break

Obama Sets Expansive Goal for Jobs - washingtonpost.com

Bad news for the economy from Obama. Every job the government "creates" with tax dollars means at least one less job for private industry, since people don't have those dollars in their pockets anymore to spend on what they really want.

Obama Sets Expansive Goal for Jobs - washingtonpost.com

Repeal Insider-Trading Laws

Good argument opposing laws against insider trading.

Repeal Insider-Trading Laws

American Empire Project: Stuff Happens

I agree with Tom Engelhart:

You might say that, in the end, Bush's secret plan for never withdrawing from Iraq was but an extension of his shop-till-you-drop response to 9/11. The idea was to put so much stuff in the country that we'd have to stay...

when Barack Obama sits down in the Oval Office with his top commanders, he's going to hear about all that "stuff." For those who want to drag their feet on leaving Iraq, this is the argument of last resort...

When it comes to withdrawal, the most militarily profligate administration in memory has seemingly ensured that the highest military priority in 2009 will be frugality -- that is, saving all American "stuff" in Iraq...

American Empire Project: Stuff Happens

» PJB: Who Killed Detroit? ::: Patrick J. Buchanan - Official Website

I partly agree with Pat in that government mandates have gone a long way to forcing domestic business into a non-competitive position with foreign competition.

» PJB: Who Killed Detroit? ::: Patrick J. Buchanan - Official Website

Miss L's Political Meanderings: Meandering of the Day

I agree with Miss L. "I'd rather be too wary of government than not wary enough. What about you?"

Miss L's Political Meanderings: Meandering of the Day

Paul (TX14) - Speech and Statement - The Austrians Were Right

Ron Paul tells Congress, "Who’s being ignored? The Austrian free-market economists—the very ones who predicted not only the Great Depression, but the calamity we’re dealing with today. If the crisis was predictable and is explainable, why did no one listen? It’s because too many politicians believed that a free lunch was possible and a new economic paradigm had arrived. But we’ve heard that one before--like the philosopher’s stone that could turn lead into gold. Prosperity without work is a dream of the ages."

Paul (TX14) - Speech and Statement - The Austrians Were Right

netRightNation | the right's blogging hq

Robert Romano writes, "The real issue though is that the people do indeed have a fundamental right, as Mr. Biundo has suggested, to limit their government. And that includes limiting the rate of the growth of government."

netRightNation | the right's blogging hq