Weekend Edition Archive
December 12, 2008 6:06 PM
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Weekend Edition
In the present crisis, the citizens of the United States have to make an important choice. They can support a policy designed to perpetuate our current fiat-money system and the sorry state of banking and of financial markets that it logically entails. Or they can support a policy designed to reintroduce a free market in money and finance. This latter policy requires the government to keep its hands off. It should not produce money, nor should it appoint a special agency to produce money. It should not force the citizens to use fiat money by imposing legal-tender laws. It should not regulate banking and should not regulate the financial markets. It should not try to fix the interest rate, the prices of financial titles, or commodity prices.
Clearly, these measures are radical by present-day standards, and they are not likely to find sufficient support. But they lack support out of ignorance and fear. FULL ARTICLE
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November 7, 2008 2:39 PM
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Weekend Edition
Economists of this century of the broadest vision and the keenest insight -- men such as Ludwig von Mises, Frank H. Knight, and F.A. Hayek -- came early to the conclusion that mastery of pure economic theory was not enough, and that it was vital to explore related and fundamental problems of philosophy, political theory, and history. In particular, they realized that it was possible and crucially important to construct a broader systematic theory encompassing human action as a whole, in which economics could take its place as a consistent but subsidiary part.FULL ARTICLE
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October 31, 2008 8:03 AM
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Weekend Edition
The mixing of politics and business not only is detrimental to politics, as is frequently observed, wrote Ludwig von Mises in 1926, but even much more so to business. Many large enterprises must give thousands of considerations to political matters, which plants the seeds of bureaucratism. But all this does not justify the proposals to bureaucratize completely and formally all production through the nationalization of credit. FULL ARTICLE
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Comments (7)
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