Liberty Forged

the State has no money of its own, so it has no power of its own. ` Nock

Posts Tagged ‘robert higgs’

Washington DC, Austrian Economics, and Destroying Currency

Posted by Jesse on March 12, 2009

What Has Government Done to Our Money?

Rothbard shows precisely how banks create money out of thin air and how the central bank, backed by government power, allows them to get away with it. He shows how exchange rates and interest rates would work in a true free market. When it comes to describing the end of the gold standard, he is not content to describe the big trends. He names names and ferrets out all the interest groups involved.

Tom Woods [Author of Meltdownfree chapter]- We Need Our Heads Examined, say Harvard

In short, the conference was about this: Why do people still think the interaction of free individuals is a superior economic system to one directed by Harvard Ph.D.s like us? …. So by assuming from the outset the very thing that needs to be proven – namely, that the current state of the economy just occurred spontaneously, as the result of wicked market forces – our betters relieve themselves of the need to consider that central banking, a government-established institution, just might have had, you know, a little something to do with what happened.

Mises.org – Reisman –
The Myth that Laissez-Faire is Responsible for Our Present Crisis

Laissez-faire capitalism is a politico-economic system based on private ownership of the means of production and in which the powers of the state are limited to the protection of the individual’s rights against the initiation of physical force. This protection applies to the initiation of physical force by other private individuals, by foreign governments, and, most importantly, by the individual’s own government. This last is accomplished by such means as a written constitution, a system of division of powers and checks and balances, an explicit bill of rights, and eternal vigilance on the part of a citizenry with the right to keep and bear arms. Under laissez-faire capitalism, the state consists essentially just of a police force, law courts, and a national defense establishment, which deter and combat those who initiate the use of physical force. And nothing more.

Ebeling – Human Action as Sixty

“Monetary calculation is the guiding star of action under a system of division of labor,” Mises declared in Human Action. “It is the compass of the man embarking on production.”[1] The significance of the competitive process, as Mises had expressed it in his earlier volume Liberalism, is that it facilitates “the intellectual division of labor that consists in the cooperation of all entrepreneurs, landowners, and workers as producers and consumers in the formation of market prices. But without it, rationality, i.e., the possibility of economic calculation, is unthinkable.”

Richards – Science is as Science Does

I have a bone to pick with Keynesian economists….By what right do I challenge this claim of the economists? I am an experimental physicist by profession. If there is such a thing as empirical science at all, I believe that experimental physics fits the definition, so I have had some experience with it myself. Now I do not dispute that economics is a science. Austrian economists do not dispute that economics is a science; it is just that they understand it to be a logical science, the science of human action.

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Obama ignores largest National Security threat – the Pentagon

Posted by Jesse on February 5, 2009

From antiwar.com radio:

Chalmers Johnson, author of Nemesis: The Last Days of the American Republic, discusses the enormous and expanding U.S. defense budget amidst a general economic collapse, the army of defense lobbyists ready to fight against any spending cuts, how military spending diverts economic resources away from beneficial uses and how defense contractors make the largest and most dubious defense projects into sacred cows by spreading production to as many congressional districts as possible.

MP3 here. (22:46)

Chalmers Johnson is the author of Blowback: The Costs and Consequences of American Empire, The Sorrows of Empire: Militarism, Secrecy, and the End of the Republic and Nemesis: The Last Days of the American Republic. His latest article, “Economic Death Spiral at the Pentagon”, co-written with Tom Engelhardt, is at Tomdispatch.com and at Antiwar.com.

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See: The Political Economy of Fear:

At every point, opportunists latch onto existing fears and strive to invent new ones to feather their own nests. Thus, public-school teachers and administrators agree that the nation faces an “education crisis.” Police departments and temperance crusaders insist that the nation faces a generalized “drug crisis” or at times a specific drug crisis, such as “an epidemic of crack cocaine use.” Public-health interests foster fears of “epidemics” that in reality consist not of the spread of contagious pathogens but of the lack of personal control and self-responsibility, such as the “epidemic of obesity” or the “epidemic of juvenile homicides.” By means of this tactic, a host of personal peccadilloes has been medicalized and consigned to the “therapeutic state” (Nolan 1998, Szasz 2001, Higgs 1999).

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For a good exposition on why the “Left” is just as bad (if not worse) as the “Right” on the subject of militarism, have a listen:

Justin Raimondo, the editorial director of Antiwar.com, discusses his article “Beware the New Globalism,” the shift in U.S. empire from Bush’s unilaterism to Obama’s multilateralism, how the economic meltdown is only the latest justification for global regulation, the appeal of smaller and more efficient regional governments, the likelihood of increased international cooperation on Iran sanctions and intervention in Africa under the Obama administration and how the U.S. is eschewing a democratic republic in favor of plutocratic socialism.

MP3 here. (53:44)

Justin Raimondo is the editorial director of Antiwar.com. He is the author of An Enemy of the State: The Life of Murray N. Rothbard (Prometheus Books, 2000). He is also the author of Reclaiming the American Right: The Lost Legacy of the Conservative Movement (with an Introduction by Patrick J. Buchanan), (Center for Libertarian Studies, 1993), and Into the Bosnian Quagmire: The Case Against U.S. Intervention in the Balkans (1996).

He is a contributing editor for The American Conservative, a Senior Fellow at the Randolph Bourne Institute, and an Adjunct Scholar with the Ludwig von Mises Institute, and writes frequently for Chronicles: A Magazine of American Culture.

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Daily Show – Satire or Truth?

Posted by Jesse on January 29, 2009

Jon Stewart proves Obama is Bush

Result: Government continues to advance, the people remain divided. And there are those call this progress? and Change?

Real change Requires Revolution

Dissecting Obama’s Speech

Real World order is Chaotic, What is Anarchy?

crisis_1401


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