Daily Article:
Friday, July 03, 2009
by
David Gordon
Tom Woods has made an invaluable contribution with his latest book. If the Austrian account of our current plight is correct, what should we do now? Woods offers a simple answer that is essential for the public to understand. The government should do nothing. Malinvestments have occurred and must come to an end.
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Daily Article:
Friday, July 03, 2009
by
Doug French
Back in the middle of this decade, building anything seemed like a good idea. With the housing boom in full bloom, developers had the imagination, lenders had the construction money, and buyers had swarms of mortgage lenders panting to lend them the entire purchase price of anything their hearts desired. So imagine the confluence of combining Auburn Tigers football and real estate: a certain touchdown.
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Daily Article:
Friday, July 03, 2009
by
L. Albert Hahn
Keynesianism presupposes an economy whose members do not see through the changes brought about by monetary or fiscal manipulation — or, as some might say, the swindle. Above all, it presupposes that people are blinded by the idea that the value of money is stable — by the "money illusion," as Irving Fisher called it. In all this we are not saying anything new; fundamentally, we are merely stating the approach of the classical economists.
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