Recent content by murrayrothbard

All of humanity "runs" on the "Austrian principles". The principle very simply being that human beings act, i.e make use of scarce means to achieve desired ends. Economics is then simply the development of the logical implications of this fact.

It is a difference in philosophy and methodology. "States using an Austrian system" makes no sense. There is no program/system to put in to place. The Austrians hold that economics is properly understood as a descriptive science, not a prescriptive science.

The Austrian Theory of the Trade Cycle, or Credit Theory of the Business Cycle, concludes that expansions of credit via fractional reserve banking induces an artificial boom, and since it is artificial, necessarily consists of massive malinvestment in regards to the real demands of the...

I think it was Rockwell and some of the other columnists that still write for his site (Gary North inparticular). However, I really do think that the newsletters were just opportunistic money making and were written to appeal to a certain, easily swayed audience. I've read hundreds of essays...

I can't really think of anyone else that she would be talking about. I would be sort of shocked, but oh well. I've read Lew for years and have never seen anything like this in his writings. But when McElroy is talking about former friends that don't support Paul, it makes me think it really...

Interpret what law? How can they interpret a legal tender law if the congress has no authority to write one?

Huh? Where does the federal government get its authority to define legal tender? Are the courts not bound by the constitution?

ATTACK! ATTACK! ATTACK! And go a lot more populist in the rhetoric. Don't have change the goods just wrap'm up better.

Well if you are going that route, where does it say that the federal government even has the authority to enforce legal tender laws??

I'm confused. By "barter" do you mean using commodities as mediums of exchange (i.e money), or do you mean direct exchange (i.e one computer for one dozen eggs, four pairs of shoes, one pair of pants, four socks, and TV)?

Of course it's the economy. But RP CANNOT fix the economy. As in he cannot prevent the collapse. The only way to get to a healthy economy is for the current maladjusted structure to CORRECT. People don't want to hear this. :(

Um, money exists for a reason. A direct exchange economy (i.e a barter economy) is unable to deal with the problem of coincidence of wants, and the calculation problems that arise once a production structure starts to become even the least bit developed. There is nothing wrong with money...

There is no such thing as peaceful political process.

QFT QFT QFT QFT QFT QFT + 100000000000 waste of time

99% of the population has absolutely no clue about the economy or economics in general. Do you think people understand it? Do you think people understand that the stock market is a giant inflated bubble, and probably needs to massively correct, or do people want a politician that will stick...