Austrian Econmics vs. Keynesian Economics

Eliot Spitzer and Sophistry

In Ancient Greece sophists were teachers who taught virtue, which in those days generally meant the art of statesmanship, to young men rich enough to afford their services. Sophistry, as their art was called, is a trade much criticized in the dialogues of Plato, where Socrates attacks not only the practice of teaching for a […]

Things Jesus Never Said

There is no virtue in compulsory government charity, and there is no virtue in advocating it. A politician who portrays himself as “caring” and “sensitive” because he wants to expand the government’s charitable programs is merely saying that he’s willing to try to do good with other people’s money. Well, who isn’t? And a voter […]

Commodity Prices During “The Bernanke Era”

What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation. ~Ludwig von Mises