Tag Archives: 6b) Mises.org

The world is full of scraps of paper today.- Benjamin Anderson, economist, Chase Manhattan Bank (1920 - 1939)April 1933 found America mired in a crushing economic depression, and newly elected president Franklin DeLano Roosevelt -- who had declared the previous month he had a legal power derived from the Trading with the Enemy Act to assume control of our monetary system -- responded by taking America off the gold standard. That the Act, an unexploded legislative...

Today, states across the country are beginning to actively embrace prosound money legislation, inviting a critical examination of how America abandoned the gold standard of money and racked up $34.5 trillion in debt. To understand how we got here, it’s important to understand the policy that initiated our monetary decline.More than ninety years ago today, April 5, 1933, President Franklin D. Roosevelt issued Executive Order 6102, forever reshaping America’s monetary...

Nick Gillespie, editor-at-large for Reason, recently got into a friendly dispute with Bob over whether American libertarians were being too pessimistic. He joins Bob to make the case for optimism, while Bob demurs.Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree [embedded content]...

In The Price of Time, Edward Chancellor has given us a colorful and provocative review of the history, theory, and the profound effects of interest rates, the price that links the present and the future, which he argues is “the most important price of all.” The history runs from Hammurabi’s Code which in 1750 BC was “largely concerned with the regulation of interest,” and from the first debt cancellation, which was proclaimed by a ruler in ancient Mesopotamia, all...

In today's discourse on Bolivia, notions of liberalism, free markets, or traditional capitalist ideals don’t ever come to mind in contrast with mainstream discussions of 21st-century socialism, Keynesian policies, and a notable lack of economic freedoms. In fact, Bolivia was ranked 117 in 2021 by the Fraser institute in the Economic Freedom of the World: 2023 Annual Report. And it scored 43.4 in the Economic Freedom Index by the Heritage foundation, making it the...

A strategy for liberty must be both optimistic and realistic.Perennial optimists are sometimes tempted to ignore or minimize hazards, their answer to every challenge being somewhat lackadaisical: “Don’t worry, it will be fine.” They make the mistake of supposing all that is needed to surmount any challenge is a good bout of optimism. They can be heard, for example, assuring us that simply pronouncing the slogan “go woke, go broke” will scatter the enemies of liberty....

The price or the rate of exchange of one good in terms of another is the amount of the other good divided by the amount of the first good. In the money economy, price will be the amount of money divided by the amount of the first good.Suppose two transactions were conducted. In the first transaction, one TV set is exchanged for $1,000. In the second transaction one shirt is exchanged for $40. The price or the rate of exchange in the first transaction is $1,000 per TV...

The word "treason" has enjoyed something of a renaissance in recent years—on the Left. It used to be more popular on the Right. During the Cold War, conservatives frequently employed the word to demand their ideological enemies be exiled or executed. Nowadays, anti-immigration activists frequently denounce their opponents as "the treason lobby." But it's on the Left that the word appears to have its most devoted advocates at the moment. Robert Reich, for instance, is...

Responding to an overwhelming groundswell of grassroots pressure, Gov. Tony Evers today signed a bill into law that secures Wisconsin’s place as the 44th state in America to end sales taxes on the purchase of precious metals.Assembly Bill 29 and Senate Bill 33, carried by Rep. Sortwell and Sen. Stroebel, respectively, enjoyed strong bipartisan support in both chambers of the Wisconsin legislature before it landed on Gov. Evers’ desk.Backed by the Sound Money Defense...

Since the inception of the NDA Government in 2014, India's right-wing has consistently performed well across all sectors of society. Both print and electronic media have been significantly influenced by this ideology. The bureaucracy and academia have, to some extent, either shifted their political leanings or have begun to accept ideologies they previously rejected. This trend is not confined to India alone; it has also been observed in Europe and the Americas....