Llewellyn H. Rockwell, Jr. Archives
The Downturn Is Good News

I'll state again what everyone familiar with the Mises-Hayek business cycle knows: the downturn is a response to an artificially inflated economic structure. Loose credit, courtesy of the Federal Reserve, has been sucked into certain sectors and industries in a way that cannot be sustained. The response of selloffs and business failures represents an injection of reality into an unreal bubble.
Far from regretting the economic downturn, then, it is something that should cause us to breathe a sigh of relief. And by the way, this is not new knowledge. F.A. Hayek spelled all this out in his amazing writings between the wars, now recently collected and available for the first time in decades in a new book published by the Mises Institute: Prices and Production and Other Works.
Going for the Heart

Without a central bank, the political section of the bookstore would have to be reclassified as science fiction.
This is why you hardly ever hear a fundamental question on the right of the Fed to exist. This is why the political culture frowns on anyone who attacks the heart of the state. This is why it is so "unrespectable" to mention the case against the Fed, and why serious critics are treated to a kind of shunning — and why, if you want to go places in Washington, you must never entertain the idea that the central bank ought to be abolished. FULL ARTICLE
Lower Labor Costs Now!
Job instability is the number one factor that leads to public panic. It is more pressing than stock-price declines, general price increases, and a host of other bad trends, because it hits people in the most direct way by threatening to end the flow of money that puts bread on the table.
Don't blame the employers. They are faced with making cutbacks wherever possible. They have to worry about surviving in the downturn. It is not only labor costs that must be cut. Cutbacks must occur in every area. FULL ARTICLE
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March 20, 2008 9:38 AM
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Why Don't People Get it?
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The Land of Free Stuff
December 23, 2007 2:03 PM
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Working for the Future of Liberty
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Rothbard Instituut
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November 10, 2007 4:23 PM
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The Plummeting Greenback
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Broken Window Watch
October 24, 2007 12:34 PM
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The Source
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Blood on Their Hands
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Hans Sennholz, RIP
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The Exploitation of Children?
June 15, 2007 10:07 AM
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Carving You Up
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Three National Treasures
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Property, and all else follows from that
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Economists should do what interests them
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Libertarianism is a Revolutionary Movement
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That Doherty Book
March 16, 2007 8:37 AM
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Planned to Death
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Truth Needs Champions
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The Democrats and their Doomed Ideology
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Good for Rod Dreher
January 13, 2007 8:43 AM
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January 12, 2007 8:42 AM
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We Need an Angel Like Clarence
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July 1, 2005 9:46 AM
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June 28, 2005 9:12 AM
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You see the link here?
June 16, 2005 7:58 AM
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May 27, 2005 7:48 AM
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May 18, 2005 5:36 AM
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Go, Tom, Go!
May 16, 2005 3:12 PM
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April 27, 2005 7:53 AM
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April 22, 2005 6:13 AM
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April 20, 2005 7:58 AM
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My Michigan Speech: The Empire Shrinks Back
April 18, 2005 7:55 AM
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March 29, 2005 10:35 AM
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March 20, 2005 2:53 PM
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March 17, 2005 6:24 AM
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March 16, 2005 5:20 AM
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March 14, 2005 10:16 AM
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February 28, 2005 9:25 AM
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February 25, 2005 9:04 AM
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February 17, 2005 11:41 AM
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February 16, 2005 5:39 AM
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January 27, 2005 1:04 AM
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January 16, 2005 8:12 PM
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December 31, 2004 7:26 AM
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December 23, 2004 7:37 AM
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December 19, 2004 2:59 PM
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In Praise of Shoddy Products
December 15, 2004 10:33 PM
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Save or Else
December 9, 2004 12:07 AM
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November 26, 2004 5:55 AM
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November 11, 2004 5:26 AM
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Smart Kids
November 5, 2004 8:05 PM
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November 4, 2004 5:14 AM
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A note from Hans Sennholz
October 29, 2004 2:22 PM
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The Myth of a Kerry Calamity
October 26, 2004 6:19 AM
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October 6, 2004 6:13 AM
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September 27, 2004 10:50 AM
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September 24, 2004 7:58 AM
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September 20, 2004 8:08 AM
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The Expense of Social Security 'Privatization'
September 19, 2004 3:11 PM
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September 15, 2004 8:57 AM
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September 10, 2004 8:30 AM
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The Ownership Society
September 3, 2004 7:33 AM
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High Prices as Policy
August 25, 2004 7:53 AM
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Long on the MU
August 9, 2004 11:22 AM
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Terrorists Rule the Roost
August 4, 2004 7:26 AM
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A Little Chaff With My Wheat, Please
July 28, 2004 6:32 AM
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Are Food Makers Indifferent to Death by Allergy?
July 24, 2004 7:40 AM
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Kerry's Economists
July 14, 2004 6:15 PM
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There Oughta Be a Law
July 12, 2004 3:27 PM
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Herbener on Kerrynomics
July 11, 2004 11:43 AM
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Westley Hears From a Federal Worker in Iraq
July 9, 2004 11:21 AM
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Jobs, Education, Health Care, Who Cares
July 7, 2004 9:56 AM
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History Unthwarted
July 1, 2004 7:40 AM
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Elsevier Ending? Kluwer Kaput?
June 27, 2004 10:38 PM
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Your Right to Deflation
June 24, 2004 4:06 PM
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The Trouble With Papal Economics
June 22, 2004 8:50 AM
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June 21, 2004 7:27 AM
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Why They Lie
June 17, 2004 9:47 AM
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Ramesh Ponnuru on the Austrian School
June 15, 2004 3:04 PM
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Dangerous Capitalists in Poland
June 13, 2004 3:35 PM
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Hail the Great Leader!
June 11, 2004 8:14 AM
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Five Smooth Stones
June 3, 2004 8:04 AM
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Which Way the Young?
May 27, 2004 8:12 AM
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Training Wheels and Fighting Words
May 22, 2004 9:15 PM
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Invade Brazil--Not!
May 19, 2004 3:56 PM
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War, the god that failed
May 17, 2004 10:35 AM
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May 11, 2004 4:19 PM
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The Status Quo Ante
May 4, 2004 9:12 AM
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Cotton Candy
April 29, 2004 6:05 AM
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Out of Gas in Iraq
April 26, 2004 2:17 PM
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Bartlett's Misgivings on War
April 22, 2004 8:28 AM
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What Should Freedom Lovers Do?
April 20, 2004 9:11 AM
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The Madness of President George
April 16, 2004 8:17 AM
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A Superpower is Defeated
April 9, 2004 6:13 AM
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Mainstream Economists Agree With Kinsella
April 5, 2004 8:50 AM
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Go East, Young Man
April 2, 2004 8:48 AM
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Just Say Mea Culpa
April 1, 2004 8:10 AM
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Hero of Peace and Capitalism
March 30, 2004 1:20 PM
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The Potato Chip Standard
March 29, 2004 9:58 PM
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Counterterrorism (by Government) is Impossible
March 26, 2004 6:40 AM
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Are We Serfs?
March 23, 2004 4:44 PM
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Kotlikoff: Your Parents Are Ripping You Off
March 23, 2004 3:11 PM
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Spain's Sophisticated Voters
March 17, 2004 8:11 AM
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Free Trade, Some Trade, No Trade
March 16, 2004 8:08 AM
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Anti-Outsourcists Threaten Profits, Economy
March 13, 2004 3:08 PM
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Is Academic Life Too Stresssful?
March 13, 2004 2:34 PM
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Now Get This Straight
March 10, 2004 11:13 AM
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Is the Welfare State Doomed?
March 5, 2004 9:02 AM
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Mises on CNN
March 4, 2004 3:09 PM
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Arrested for Vaccinating Without a License
March 4, 2004 7:31 AM
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Mismanaging the World
March 3, 2004 7:43 AM
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Heading for a Fall, by Fiat
February 27, 2004 4:54 PM
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Google Glory
February 27, 2004 11:48 AM
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Government Shuts Down Teen Entrepreneur
February 26, 2004 12:17 PM
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How Many Work for Government?
February 25, 2004 2:16 PM
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Help Wanted
February 25, 2004 7:45 AM
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More on Leftist Hegemony on Campus
February 18, 2004 10:59 AM
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Gimme an A, Gimme a B, Gimme an E
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Maine Town Seeks To Dissolve To Lower Taxes
February 18, 2004 8:49 AM
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Left-Wing Hegemony on Campus
February 13, 2004 11:27 AM
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Hastert on Mankiw
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The New Intellectuals
February 12, 2004 7:50 AM
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'Only Mathematics Is True"
February 11, 2004 10:36 AM
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A Progressive's Guide to Populist Economics
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Secession Requires Free Trade
February 6, 2004 8:27 AM
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'Let the Dollar Drop'
February 6, 2004 8:11 AM
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The Word Made Web
February 5, 2004 7:59 AM
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Speaking of Spam
January 30, 2004 5:07 PM
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Tibor Machan Writes To Paul Krugman
January 27, 2004 1:22 PM
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Spam on Its Way Out
January 24, 2004 5:08 PM
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