Category Archives: News/ Lessons

Can an Economy Advance Without Savings?

According to Frank Decker, Honorary Associate at the University of Sydney Law School, it certainly can. Not only that, but eschewing savings in favor of “monetisation of assets” will yield better results! I refer to his article in Economic Affairs–Volume … Continue reading

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Bastiat and the Hubble Space Telescope

A few days ago my wife and I watched a fascinating program on PBS. The long running Nova series featured the history and accomplishments of the Hubble Space Telescope. The program was titled Invisible Universe Revealed. This episode was composed … Continue reading

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The Economic Benefits of Ending the Fraud of Fractional Reserve Banking

Fractional reserve banking (FRB) is fraudulent. It should be prosecuted as a crime rather than accepted as normal practice under current banking laws. Any society that respects property rights and the rule of law would not allow it. For those … Continue reading

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Disgust at the LBJ Library

Recently my wife and I spent a morning at the Lyndon Baines Johnson Presidential Library in Austin, Texas. The damage done by this big bully is incalculable. His library reminds us of the start of the blizzard of government expansion … Continue reading

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My letter to Trains Magazine re: $10 billion in wasted capital

October 3, 2017   Trains Magazine P.O. Box 1612 Waukesa, WI 5317-1612   Re: “Time Is Up”, by Bob Johnston (October 2017 edition)   Dear Sirs: In response to Mr. Johnston’s article about the real impact, if any, of the … Continue reading

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Free the Arctic!

From the Sunday, August 27th New York Times: Russian Tanker Completes Arctic Passage Without Aid of Icebreakers A new Russian tanker with a reinforced hull has cut shipping time from Europe to Asia by thirty percent. One would think that such an … Continue reading

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The Real EU aim in Brexit Talks

From today’s Open Europe news summary: German MEP says EU wants to punish UK in Brexit talks Writing in The Times, German MEP Hans-Olaf Henkel argues that the European Parliament Brexit negotiator, Guy Verhofstadt, and the EU’s chief Brexit negotiator, … Continue reading

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Why Sound Money Does Not Need a Central Bank, Only the Rule of Law

The money that all nations use today is composed either of reserves created by a central bank and/or credit money created by banks via fractional reserve banking. In the first case, a central bank can create reserve money via open … Continue reading

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No Nation Can Harm Another Economically

My recent Mises Daily Article titled Two Common Objections to Unilateral Free Trade drew some criticism that I would like to answer.   Unilateral free trade rewards the country that adopts it   Several commented that my use of the … Continue reading

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Two Unfounded Objections to Unilateral Free Trade

  Recently I forwarded to my circle of friends what I considered to be a concise and accurate argument in favor of unilateral free trade. The author was Professor Don Boudreaux of George Mason University, writing in his daily blog … Continue reading

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