Murray Rothbard — Strictly Confidential: The Private Volker Fund Memos of Murray N. Rothbard — Videos

Posted on February 8, 2015. Filed under: American History, Banking, Blogroll, Books, College, Communications, Economics, Education, Faith, Family, Federal Government, Fiscal Policy, Friends, government, government spending, history, History of Economic Thought, Inflation, Language, Law, liberty, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Non-Fiction, People, Philosophy, Photos, Politics, Radio, Rants, Raves, Talk Radio, Video, Welfare, Wisdom, Writing | Tags: , , , , , , , , , , , , , , , , , , , , , , , |

murray_boardStrictly Confidential

Strictly Confidential: The Private Volker Fund Memos of Murray N. Rothbard

Murray Rothbard is widely known for his vast literary output, but a great deal of his work has never been published until now. During the late 1950s and early 60s he worked for the William Volker Fund, one of the few organizations willing to fund classical liberal scholars at the time. In that capacity, he wrote memos and reviews that offer insights on history, economics, foreign policy, and political theory.

Rothbard’s view and understanding of world events was unique and prescient. Strictly Confidential is an illuminating commentary on the feisty early years of the libertarian movement, and the fledgling intellectual base that became the root of today’s libertarianism.

No one tells it like it is better than Rothbard.

http://mises.org/library/strictly-confidential-private-volker-fund-memos-murray-n-rothbardmurray rothbard keynesian

rothbardMurray_Rothbard

How Murray Rothbard Became a Libertarian

A prolific author and Austrian economist, Murray Rothbard promoted a form of free market anarchism he called “anarcho-capitalism.”

In this talk, given at the 1981 National Libertarian Party Convention, Rothbard tells the story of how he came to learn about economics and libertarianism as he grew up in the Bronx and attended Columbia University in the 1930s and 40s. He reminisces about meeting Frank Chodorov, Baldy Harper, George Stigler and Ludwig von Mises, and takes a number of audience questions.

The Future of Austrian Economics | Murray N. Rothbard

This is the famous speech by Murray Rothbard given in the days following the collapse of the Soviet empire. His exuberance is palpable has he explains the meaning of it all for the place of liberty in the history of civilization.
A brilliant scholar and passionate defender of Liberty, Professor Murray Rothbard (1926-1995) was dean of the Austrian School of economics, holder of the S.J. Hall Chair at the University of Nevada, Las Vegas, and Academic Vice President of the Ludwig von Mises Institute.

The author of 17 books and thousands of articles, the foremost Misesian economist, the father of modern freedom theory, and the most delightful personality in the profession, this great teacher here spellbinds an audience of students, faculty, and business leaders in the “Future of Austrian Economics,” at the 1990 Mises University at Stanford.

Only Austrian economics, Rothbard shows, can explain the collapse of socialism/communism and tell us what should replace it: laissez-faire capitalism. There is a lesson here as well, he shows, for dealing with the Leviathan in Washington, D.C.

The Founding of the Federal Reserve | Murray N. Rothbard

Libertarianism | Murray N. Rothbard

Murray Rothbard: Six Stages of the Libertarian Movement

Murray Rothbard – The Government Is Not Us

The Gold Standard Before the Civil War | Murray N. Rothbard

Rothbard on the ‘best’ US president

Keynes the Man: Hero or Villain? | Murray N. Rothbard

415. Murray Rothbard: Who He Was and Why He’s Important

Gene Epstein: Murray Rothbard’s Mixed Legacy

How Murray Rothbard Changed my Mind on War | Thomas E. Woods, Jr.

Murray Rothbard as Academic Role Model | Gary North

The Worldview of Murray Rothbard | Gerard Casey

Two Roads, One Truth | Gerard Casey

inflation

 

For A New Liberty For A New Liberty 2America's Great DepressionLThe Case Against The FedRothbard-MESstateMurray_Rothbard (1)

 

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Imperialism: Enemy of Freedom–Ludwig von Mises Institute–Videos

Posted on January 29, 2012. Filed under: Agriculture, American History, Banking, Blogroll, Books, Business, College, Communications, Culture, Demographics, Diasters, Economics, Education, Employment, Energy, Farming, Federal Government, Federal Government Budget, Films, Fiscal Policy, Foreign Policy, government spending, Health Care, history, History of Economic Thought, Inflation, Investments, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, Natural Gas, Nuclear Power, Oil, People, Philosophy, Politics, Public Sector, Rants, Raves, Security, Talk Radio, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

How Empires Bamboozle the Bourgeoisie | Llewellyn H. Rockwell, Jr. 

The Classical Liberal Theory of Empire | Ralph Raico

The Case for Free Trade, Not Imperialism | Walter Block 

What Empire Does to a Culture | Roderick T. Long

The Firm vs. Nationalism | Peter G. Klein

Financing the Empire | Mark Thornton

Taxation, Inflation, and War | Joseph T. Salerno

The Anti-Imperialist League and the Battle Against Empire | Thomas E. Woods, Jr. 

The Confused Literature on Globalization | David Gordon

Small States, Global Economy | Jeffrey M. Herbener

The New Global Marketplace | Sudha Shenoy

Mises in 1919 | Jörg Guido Hülsmann 

The International Language of the Austrian School | Jeffrey A. Tucker

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Imperialism: Enemy of Freedom–Videos

Posted on December 16, 2010. Filed under: Agriculture, Blogroll, Communications, Culture, Demographics, Economics, Education, Employment, Energy, Farming, Federal Government, Foreign Policy, government, government spending, Health Care, history, Immigration, Investments, Language, Law, liberty, Life, Links, media, People, Philosophy, Politics, Quotations, Raves, Regulations, Religion, Resources, Science, Taxes, Technology, Transportation, Video, War, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , |

“Marxian socialism, as a fundamentally revolutionary movement, is inwardly inclined toward imperialism. No one will dispute that, least of all the Marxists themselves, who straightforwardly proclaim the cult of revolution.”

~Ludwig von Mises, Nation, State, and Economy, page 206

 

American Imperialism: Enemy of Freedom 1 of 4) Lew Rockwell

 

American Imperialism: Enemy of Freedom 2 of 4) Lew Rockwell

 

American Imperialism: Enemy of Freedom 3 of 4) Lew Rockwell

 

 

American Imperialism: Enemy of Freedom (4 of 4) Lew Rockwell

Small States, Global Economy | Jeffrey M. Herbener

 

The Classical Liberal Theory of Empire [Ralph Raico]

 

The Case for Free Trade, Not Imperialism [Walter Block]

 

The Anti-Imperialist League and the Battle Against Empire [Thomas E. Woods, Jr.]

 

Five Most Common Myths About International Trade [Robert P. Murphy]

 

 The Confused Literature on Globalization [David Gordon]

 

Financing the Empire | Mark Thornton

 

What Empire Does to a Culture [Roderick T. Long]

 

The New Global Marketplace [Sudha Shenoy]

 

The Origin and Nature of International Conflict [Hans-Hermann Hoppe]

 

Taxation, Inflation, and War [Joseph T. Salerno]

 

American Imperialism: Enemy of  

 

The International Language of the Austrian School [Jeffrey A. Tucker] 

“Modern imperialism is distinguished from the expansionist tendencies of the absolute principalities by the fact that its moving spirits are not the members of the ruling dynasty, nor even of the nobility… but the mass of the people, who look upon it as the most appropriate means for the preservation of national independence.”

~Ludwig von Mises, Liberalism, page 122.

 

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Memo To Bill Bennett: Economists For Your Morning In America Show: Sowell, Woods, Goodman, Higgs, Mitchell, Boskin, and Lazear

Posted on July 21, 2010. Filed under: Blogroll, College, Economics, Education, Employment, Energy, Farming, Federal Government, Fiscal Policy, government, government spending, Health Care, history, Immigration, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Raves, Regulations, Resources, Strategy, Taxes, Video | Tags: , , , , , , , , , , , |

“The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”

~Thomas Sowell

 

Bill,

A caller to your July 21, 2010 show made an excellent suggestion that in addition to having Bryon York on every Monday morning that you have economists on your show on a regular basis.

Since every day there is one or more stories in the news that an economist could easily comment upon, I suggest the following seven savvy conservative or classical liberal economists/economic historians for a  interview with you in one or more segments of your show:

Monday: Thomas Sowell

Thomas Sowell on the Housing Boom and Bust

Tuesday: Thomas E. Woods/ John C. Goodman

Keynesian Predictions vs. American History | Thomas E. Woods, Jr.

John Goodman on Health Care Reform

Wednesday: Robert Higgs

Robert Higgs on C-SPAN2’s Book TV, Part 1 of 3

Thursday: Dan Mitchell

There Are too Many Bureaucrats and They Are Paid too Much

Friday: Michael Boskin/Edward Lazear

Edward Lazear and Michael Boskin — Economic Headwinds

I look forward to Bryon York’s insights on Monday morning and the above economists would take your radio show to the next level.

Better watch out Rush and Glenn.

Great Show.

Raymond

” Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it”

~President Ronald Reagan

Addendum

“…The most important player on Ronald Reagan’s economic team is Ronald Reagan. The person most responsible for creating the economic program that came to be known as Reaganomics is Reagan himself. For over twenty years he observed the American economy, read and studied the writings of some of the best economists in the world, including the giants of the free market economy — Ludwig von Mises, Friedrich Hayek and Milton Friedman — and he spoke and wrote on the economy, going through the rigorous mental discipline of explaining his thoughts to others. Over the years he made all the key decisions on the economic strategies he finally embraced. He always felt comfortable with his knowledge of the field and he was in command all the way. …”

~Martin Anderson, in Revolution (1988), p. 164

PS

The Presidential History of Golf

Byron York talks about liberal efforts to ‘pre-tar’ the Tea Party protests as a violent movement

 

Background Articles and Videos

Bill Bennett’s Morning in America

http://www.billbennett.com/

 

Book TV: Bill Bennett on Radio and Writing

http://www.youtube.com/watch?v=40aMjFjZh6A

 

In Depth: Bill Bennett

http://www.youtube.com/watch?v=yhPa2SSfQx4

 

Thomas Sowell

http://www.tsowell.com/

“…Thomas Sowell (born June 30, 1930), is an American economist, social critic, political commentator and author. He often writes as an advocate of laissez-faire economics. He is currently a senior fellow of the Hoover Institution at Stanford University. In 1990, he won the Francis Boyer Award, presented by the American Enterprise Institute. In 2002 he was awarded the National Humanities Medal for prolific scholarship melding history, economics, and political science. In 2003, he was awarded the Bradley Prize for intellectual achievement.[1] …”

http://en.wikipedia.org/wiki/Thomas_Sowell

Thomas E. Woods

http://www.thomasewoods.com/

“…Thomas E. Woods, Jr. (born August 1, 1972) is an American historian and New York Times bestselling author.[1]

http://en.wikipedia.org/wiki/Thomas_Woods

John C. Goodman

 

http://www.ncpa.org/about/john-c-goodman

 

“…John C. Goodman is a libertarian economist and the founding president of the Dallas based, conservative think-tank the National Center for Policy Analysis.[1] The Wall Street Journal called Goodman the “father of Health Savings Accounts [1]. …”

http://en.wikipedia.org/wiki/John_C._Goodman

 

Robert Higgs

 http://www.independent.org/aboutus/person_detail.asp?id=489

 “…Robert Higgs (born 1 February 1944) is an American economist of the Austrian School and a libertarian anarchist. His writings in economics and economic history have most often focused on the causes, means, and effects of government growth. …”

 http://en.wikipedia.org/wiki/Robert_Higgs

Dan Mitchell 

http://www.cato.org/people/daniel-mitchell 

  

“…Dan Mitchell is a libertarian economist, senior fellow at the Cato Institute. He is one of the nation’s experts on the flat tax[citation needed] and has been the leading international voice in the fight to preserve tax competition, financial privacy, and fiscal sovereignty…”

http://en.wikipedia.org/wiki/Daniel_J._Mitchell

Michael J. Boskin

 

“…Michael Jay Boskin (born September 23, 1945 in New York City) is the T. M. Friedman Professor of Economics and Senior Fellow, Hoover Institution, Stanford University. He also is Chief Executive Officer and President of Boskin & Co., an economic consulting company.[1][2] …”

http://en.wikipedia.org/wiki/Michael_Boskin

Edward Lazear

 

http://www.hoover.org/fellows/9826

 

“…Edward Paul “Ed” Lazear (born 1948) is an award-winning American economist, considered the founder of personnel economics, and was the chief economic advisor to President George W. Bush. …”

http://en.wikipedia.org/wiki/Edward_Lazear

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Thomas E. Woods–Nullification–Videos

Posted on June 30, 2010. Filed under: Blogroll, Communications, Economics, Fiscal Policy, government, government spending, history, Immigration, Language, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Raves, Technology, Video, Wisdom | Tags: , , , |

Thomas E. Woods, Jr.

http://www.thomasewoods.com/books/nullification/

Tom Woods: “Nullification and State Resistance to Federal Tyranny” Pt. 1

Tom Woods: “Nullification and State Resistance to Federal Tyranny” Pt. 2

Tom Woods: “Nullification and State Resistance to Federal Tyranny” Pt. 3

Tom Woods: “Nullification and State Resistance to Federal Tyranny” Pt. 4

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Glenn Beck On Friedrich A. Hayek and The Road To Serfdom–Videos

Posted on June 8, 2010. Filed under: Blogroll, Books, Communications, Economics, Federal Government, Fiscal Policy, government, government spending, history, Language, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Raves, Regulations, Resources, Taxes, Technology, Video, War, Wisdom | Tags: , , , , , , , , , , , , , , |

 

 

“Perhaps the fact that we have seen millions voting themselves into complete dependence on a tyrant has made our generation understand that to choose one’s government is not necessarily to secure freedom. “

~Friedrich August von Hayek

Glenn Beck-06/08/10-A

Glenn Beck-06/08/10-B

 

Glenn Beck-06/08/10-C

 

Glenn Beck-06/08/10-D

 

Hayek on Moral Values & Altruism

 

 

Glenn Beck really surprised me with this show on Hayek and his book the Road To Serfdom and Thomas E. Woods as a guest.

I had just finished a post on a Tom Wood’s entitlements speech.

As a classical liberal I am a great admirer of both Friedrich A. Hayek and his teacher Ludwig von Mises.

Glenn, time for a show on Ludwig von Mises and Murray Rothbard.

Tom Woods, Robert Higgs,  Robert P. Murphy, and Lew Rockwell would be excellent guests on the ideas of these late great economists.

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Skip the first 12 minutes of introductions

 

 

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“There is simply no other choice than this: either to abstain from interference in the free play of the market, or to delegate the entire management of production and distribution to the government. Either capitalism or socialism: there exists no middle way.”

~Ludwig von Mises

 

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The Road to Serfdom

“…The Road to Serfdom is a book written by Friedrich von Hayek (recipient of the Nobel Memorial Prize in Economic Sciences in 1974) which transformed the landscape of political thought in the 20th century, shifting the terms of debate for millions of people across the political spectrum.[1][2] The Road to Serfdom is among the most influential and popular expositions of classical liberalism and libertarianism.

The title refers to economic and political policies which the author believes to invariably lead to the socio-economic condition known as “serfdom.”

The book was originally published by Routledge Press in March 1944 in the UK and then by the University of Chicago Press in September 1944. A condensed version of the book written by Max Eastman was then published as the lead article in the April issue of Reader’s Digest, with a press run of several million copies. This condensed version was then offered as a Book of the Month selection with a press run of over 600,000 copies. In February 1945 a picture-book version was published in Look magazine, later made into a pamphlet and distributed by General Motors. The book has been translated into approximately 20 languages and is dedicated to “The socialists of all parties.” The introduction to the 50th anniversary edition is written by Milton Friedman (another recipient of the Nobel Prize in Economics 1976). In 2007, the University of Chicago Press put out a “Definitive Edition.” In total the book has sold over two million copies.[3] …”

“…

Libertarian critics

Libertarian economist Walter Block has observed critically that while the The Road to Serfdom makes a strong case against centrally-planned economies, it appears only lukewarm in its support of a free market system and laissez-faire capitalism, with Hayek even going so far as to say that “probably nothing has done so much harm to the liberal cause as the wooden insistence of some liberals on certain rules of thumb, above all the principle of laissez-faire capitalism.” In the book, Hayek writes that the government has a role to play in the economy through the monetary system (a view that he later withdrew[19]), work-hours regulation, social welfare, and institutions for the flow of proper information. Through analysis of this and many other of Hayek’s works, Block asserts that: “in making the case against socialism, Hayek was led into making all sort of compromises with what otherwise appeared to be his own philosophical perspective—so much so, that if a system was erected on the basis of them, it would not differ too sharply from what this author explicitly opposed.”[20]

Gordon Tullock has argued Hayek’s analysis predicted totalitarian governments in much of Europe in the late 20th century. He uses Sweden, in which the government at that time controlled 63 percent of GNP, as an example to support his argument that the basic problem with The Road to Serfdom is “that it offered predictions which turned out to be false. The steady advance of government in places such as Sweden has not led to any loss of non-economic freedoms.” While criticizing Hayek, Tullock still praises the classical liberal notion of economic freedom, saying, “Arguments for political freedom are strong, as are the arguments for economic freedom. We needn’t make one set of arguments depend on the other.”[21] However, according to Robert Skidelsky, Hayek “safeguarded himself from such retrospective refutation.” Skidelsky argues that Hayek’s argument was contingent, and that, “By the 1970s there was some evidence of the slippery slope…and then there was Thatcher. Hayek’s warning played a critical part in her determination to ‘roll back the state.'”[22] …”

http://en.wikipedia.org/wiki/The_Road_to_Serfdom

 

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Glenn Beck On The Revivial Of Faith, Hope, Charity and The Gold Standard

Posted on May 20, 2010. Filed under: Blogroll, Climate, Communications, Culture, Demographics, Economics, Education, Employment, Energy, Federal Government, Fiscal Policy, government, government spending, Health Care, history, Immigration, Investments, Language, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Quotations, Raves, Regulations, Resources, Reviews, Security, Strategy, Talk Radio, Taxes, Video, Wisdom | Tags: , , , , , , , , , , , , , , , , , |

 

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.”

~Alan Greespan

Glenn Beck-05/19/10-A

Weiner Facts.com

http://www.weinerfacts.com/weiner/

 

Glenn Beck-05/19/10-B

Glenn Beck-05/19/10-C

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Gold and the Good Guys | Thomas E. Woods, Jr.

The Truth About The Economy: Total Collapse

“I can see, and that is why I can be happy, in what you call the dark, but which to me is golden. I can see a God-made world, not a manmade world.”

~Helen Keller

 

Background Articles and Videos

The Gold Standard Before the Civil War | Murray N. Rothbard

Milton Friedman on The Gold Standard

Gold Standard

“… The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. Three distinct kinds of gold standard can be identified. The gold specie standard is a system in which the monetary unit is associated with circulating gold coins, or with the unit of value defined in terms of one particular circulating gold coin in conjunction with subsidiary coinage made from a lesser valuable metal. The gold exchange standard may involve only the circulation of silver coins, or coins made of other metals, but the authorities will have guaranteed a fixed exchange rate with another country that is on the gold standard, hence creating a de facto gold standard, in that the value of the silver coins has a fixed external value in terms of gold that is independent of the inherent silver value. The gold bullion standard is a system in which gold coins do not actually circulate as such, but in which the authorities have agreed to sell gold bullion on demand at a fixed price in exchange for the circulating currency.

The gold specie standard

A gold specie standard existed in some of the great empires of earlier times, such as in the case of the Byzantine Empire which used a gold coin known as the Byzant. But with the ending of the Byzantine Empire, the civilized world tended to use the silver standard, such as in the case of the silver pennies that became the staple coin of Britain around the time of King Offa in the year 796 AD. The Spanish discovery of the great silver deposits at Potosi in the 16th century, led to an international silver standard in conjunction with the famous pieces of eight, which carried on in earnest until the nineteenth century. In modern times the British West Indies was one of the first regions to adopt a gold specie standard. The gold standard in the British West Indies, that followed from Queen Anne’s proclamation of 1704, was a ‘de facto’ gold standard based on the Spanish gold doubloon coin. In the year 1717, Sir Isaac Newton, who was master of the Royal Mint, established a new mint ratio as between silver and gold that had the effect of driving silver out of circulation and putting Britain on a gold standard. But it wasn’t until the year 1821, following the introduction of the gold sovereign coin by the new Royal Mint at Tower Hill in the year 1816, that the United Kingdom was formally put on a gold specie standard. The United Kingdom was the first of the great industrial powers to switch from the silver standard to a gold specie standard. Soon to follow was Canada in 1853, Newfoundland in 1865, and the USA and Germany ‘de jure’ in 1873. The USA used the American Gold Eagle as their unit, and Germany introduced the new gold mark, while Canada adopted a dual system based on both the American Gold Eagle and the British Gold Sovereign. Australia and New Zealand adopted the British gold standard, as did the British West Indies, while Newfoundland was the only British Empire territory to introduce its own gold coin as a standard. Royal Mint branches were established in Sydney, New South Wales, Melbourne, Victoria, and Perth, Western Australia for the purposes of minting gold sovereigns from Australia’s rich gold deposits.

The gold exchange standard

Towards the end of the nineteenth century some of the remaining silver standard countries began to peg their silver coin units to the gold standards of the United Kingdom or the USA. In 1898, British India pegged the silver rupee to the pound sterling at a fixed rate of 1s 4d, while in 1906, the Straits Settlements adopted a gold exchange standard against the pound sterling with the silver Straits dollar being fixed at 2s 4d. Meanwhile at the turn of the century, the Philippines pegged the silver Peso/dollar to the US dollar at 50 cents. A similar pegging at 50 cents occurred at around the same time with the silver Peso of Mexico and the silver Yen of Japan. When Siam adopted a gold exchange standard in 1908, this left only China and Hong Kong on the silver standard.

The gold bullion standard

The gold specie standard ended in the United Kingdom and the rest of the British Empire at the outbreak of World War I. Treasury notes replaced the circulation of the gold sovereigns and gold half sovereigns. However, legally the gold specie standard was not repealed. The end of the gold standard was successfully effected by appeals to patriotism when somebody would request the Bank of England to redeem their paper money for gold specie. It was only in the year 1925 when Britain returned to the gold standard in conjunction with Australia and South Africa, that the gold specie standard was officially ended. The British act of parliament that introduced the gold bullion standard in 1925 simultaneously repealed the gold specie standard. The new gold bullion standard did not envisage any return to the circulation of gold specie coins. Instead, the law compelled the authorities to sell gold bullion on demand at a fixed price. This gold bullion standard lasted until 1931. In 1931, the United Kingdom was forced to suspend the gold bullion standard due to large outflows of gold across the Atlantic Ocean. Australia and New Zealand had already been forced off the gold standard by the same pressures connected with the Great Depression, and Canada quickly followed suit with the United Kingdom. …”

http://en.wikipedia.org/wiki/Gold_standard

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President Obama–An Economic Illiterate, Liar and Narcissist–“Information Becomes A Distraction, A Diversion”–For A Lying Narcissist–The Truth Must Really Hurt

Posted on May 10, 2010. Filed under: Blogroll, Communications, Culture, Demographics, Economics, Education, Federal Government, Fiscal Policy, government, government spending, Immigration, Investments, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Psychology, Quotations, Rants, Raves, Regulations, Religion, Resources, Reviews, Security, Strategy, Talk Radio, Taxes, Technology, Video, Wisdom | Tags: , , , , , , , , , , , , , , , , , |

    

“There is nothing more frightening than active ignorance.”   

~Johann Wolfgang von Goethe

     

“The principle that the end justifies the means is in an individualist ethics regarded as the denial of all morals. In collectivist ethics it becomes necessarily the supreme rule.   

~Friedrich August von Hayek

    

Obama: Information is a Distraction 

    

Glenn Beck-05/10/10-A

    

Glenn Beck-05/10/10-B

Glenn Beck-05/10/10-C

Glenn Beck-05/10/10-D

    

“I am certain that nothing has done so much to destroy the juridical safeguards of individual freedom as the striving after the mirage of social justice.”   

~Friedrich August von Hayek

    

“Wisdom is found only in truth.”   

~Johann Wolfgang von Goethe

    

Background Articles and Videos

Thomas E. Woods–The Market Economy–Videos  

 

    

The Use of Knowledge in Society 

  

American Economic Review, 1945   

“…What is the problem we wish to solve when we try to construct a rational economic order? On certain familiar assumptions the answer is simple enough. If we possess all the relevant information, if we can start out from a given system of preferences, and if we command complete knowledge of available means, the problem which remains is purely one of logic. That is, the answer to the question of what is the best use of the available means is implicit in our assumptions. The conditions which the solution of this optimum problem must satisfy have been fully worked out and can be stated best in mathematical form: put at their briefest, they are that the marginal rates of substitution between any two commodities or factors must be the same in all their different uses.   

This, however, is emphatically not the economic problem which society faces. And the economic calculus which we have developed to solve this logical problem, though an important step toward the solution of the economic problem of society, does not yet provide an answer to it. The reason for this is that the “data” from which the economic calculus starts are never for the whole society “given” to a single mind which could work out the implications and can never be so given.   

The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. The economic problem of society is thus not merely a problem of how to allocate “given” resources—if “given” is taken to mean given to a single mind which deliberately solves the problem set by these “data.” It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only these individuals know. Or, to put it briefly, it is a problem of the utilization of knowledge which is not given to anyone in its totality. …”   

“…The problem is thus in no way solved if we can show that all the facts, if they were known to a single mind (as we hypothetically assume them to be given to the observing economist), would uniquely determine the solution; instead we must show how a solution is produced by the interactions of people each of whom possesses only partial knowledge. To assume all the knowledge to be given to a single mind in the same manner in which we assume it to be given to us as the explaining economists is to assume the problem away and to disregard everything that is important and significant in the real world. …”   

 http://www.econlib.org/library/Essays/hykKnw1.html   

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Thomas E. Woods–The Catholic Church: Builder of Civilization–Videos

Posted on March 31, 2010. Filed under: Babies, Blogroll, Books, Communications, Law, liberty, Life, Links, media, People, Philosophy, Politics, Raves, Religion, Strategy, Talk Radio, Video, Wisdom | Tags: , , , , , , |

The Catholic Church: Builder of Civilization Episode 1 [Part 1]

The Catholic Church: Builder of Civilization Episode 1 [Part 2]

The Catholic Church: Builder of Civilization Episode 1 [Part 3]

The Catholic Church Builder of Civilization, The Church and Science Ep 2 [Part 1]

The Catholic Church Builder of Civilization, The Church and Science Ep 2 [Part 2]

The Catholic Church Builder of Civilization, The Church and Science Ep 2 [Part 3]

The Catholic Church: Builder of Civilization, Priests as Scientific Pioneers Ep. 3 [Part 1]

The Catholic Church: Builder of Civilization, Priests as Scientific Pioneers Episode 3 [Part 2]

The Catholic Church: Builder of Civilization, Priests as Scientific Pioneers Episode 3 [Part 3]

The Catholic Church: Builder of Civilization – The Galileo Files, Ep. 4 [Part 1]

The Catholic Church: Builder of Civilization – The Galileo Files, Ep. 4 [Part 2]

The Catholic Church: Builder of Civilization Episode 4 [Part 3]

The Catholic Church: Builder of Civilization – The University System, Ep 5 [Part 1]

The Catholic Church: Builder of Civilization – The University System, Ep 5 [Part 2]

The Catholic Church: Builder of Civilization Episode 5 [Part 3]

The Catholic Church: Builder of Civilization – Does God Exist? Ep. 6 [Part 1]

The Catholic Church: Builder of Civilization – Does God Exist? Ep. 6 [Part 2]

The Catholic Church: Builder of Civilization – Does God Exist? Ep. 6 [Part 3]

The Catholic Church: Builder of Civilization – The Monks, Ep. 7 [Part 1]

The Catholic Church: Builder of Civilization – The Monks, Ep. 7 [Part 2]

The Catholic Church: Builder of Civilization – The Monks, Ep. 7 [Part 3]

The Catholic Church: Builder of Civilization – Catholic Charity, Ep 8 [Part 1]

The Catholic Church: Builder of Civilization – Catholic Charity, Ep 8 [Part 2]

The Catholic Church: Builder of Civilization – Catholic Charity, Ep 8 [Part 3]

The Catholic Church: Builder of Civilization – Western Morality, Ep. 9 [Part 1]

The Catholic Church: Builder of Civilization – Western Morality, Ep. 9 [Part 2]

The Catholic Church: Builder of Civilization – Western Morality, Ep. 9 [Part 3]

The Catholic Church: Builder of Civilization – The Concepts of Rights and Law, Ep. 10 [Part 1]

The Catholic Church: Builder of Civilization – The Concepts of Rights and Law, Ep. 10 [Part 2]

The Catholic Church: Builder of Civilization – The Concepts of Rights and Law, Ep. 10 [Part 3]

The Catholic Church: Builder of Civilization – The Origins of International Law, Ep. 11 [Part 1]

The Catholic Church: Builder of Civilization – The Origins of International Law, Ep. 11 [Part 2]

The Catholic Church: Builder of Civilization – The Origins of International Law, Ep. 11 [Part 3]

The Catholic Church: Builder of Civilization – The Origins of International Law, Ep. 12 [Part 1]

The Catholic Church: Builder of Civilization – The Origins of International Law, Ep. 12 [Part 2]

The Catholic Church: Builder of Civilization – The Origins of International Law, Ep. 12 [Part 3]

The Catholic Church: Builder of Civilization – Series Recap Ep. 13 [Part 1]

The Catholic Church: Builder of Civilization – Series Recap Ep. 13 [Part 2]

The Catholic Church: Builder of Civilization – Series Recap Ep. 13 [Part 3]

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Time To Put Fannie Mae and Freddie Mac Into Receivership–No More Bailouts!

Posted on December 18, 2009. Filed under: Blogroll, Communications, Economics, Employment, Fiscal Policy, government spending, Health Care, Investments, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Regulations, Taxes, Video, Wisdom | Tags: , , , , , , , |

 

Fannie, Freddie Overseer Considers Seeking More U.S. Aid: Video

http://www.youtube.com/watch?v=aIxZnRqTUoI

Lockhart Says Foreclosures May Spike Without Writedowns: Video

http://www.youtube.com/watch?v=tGKaORiOEYM

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No more bailouts.

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The American people will no longer bailout failed government enterprises.

Background Articles and Videoes

Fannie Mae and Freddie Mac to seek more money from taxpayers

Trever Bierschbach

“…When the bailout was proposed taxpayers were promised that they would not lose a dime on Freddie and Fannie.  Since then Fannie Mae has lost $120.5 billion, while Freddie Mac has lost just about $68 billion in the past nine quarters.  All of these losses are in spite of the government’s backing of the companies, new regulations to help prevent future losses, and the $400B lifeline, and now they want more.

While these two mortgage giants bleed off money, and feed off taxpayers, the government continues to push them to offer more loans, and restructure existing loans that are in jeopardy.  Opponents wonder at the lack of common sense involved in all of this, but supporters continue to uphold the idea that Freddie and Fannie are crucial to the President’s housing relief plan. …”

http://www.examiner.com/x-32743-Tazewell-County-Conservative-Examiner~y2009m12d18-Fannie-Mae-and-Freddie-Mac-to-seek-more-money-from-taxpayers

“…Bloomberg is reporting that Fannie Mae and Freddie Mac’s regulator is renegotiating the terms of the housing agencies’ financial rescue with the Treasury Department. According to unnamed people “familiar with the talks,” this renegotiation could include increasing the size of the agencies’ $400 billion lifeline—so far, Fannie Mae has tapped $60.9 billion and Freddie Mac $50.7 billion—and possibly cutting the dividends the agencies pay to Treasury on the borrowed money.

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Thomas E. Woods–The Economic Crisis and The Federal Reserve–Videos

Posted on December 18, 2009. Filed under: Blogroll, Communications, Economics, Employment, Fiscal Policy, government spending, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Rants, Raves, Regulations, Strategy, Taxes, Video, Wisdom | Tags: , , , , |

Thomas E. Woods, The Economic Crisis & The Federal Reserve (1) (ECONOMIC DISCOURSE SERIES)

Thomas E. Woods, The Economic Crisis & The Federal Reserve (2) (ECONOMIC DISCOURSE SERIES)

Thomas E. Woods, The Economic Crisis & The Federal Reserve (3) (ECONOMIC DISCOURSE SERIES)

Thomas E. Woods, The Economic Crisis & The Federal Reserve (4) (ECONOMIC DISCOURSE SERIES)

Thomas E. Woods, The Economic Crisis & The Federal Reserve (5) (ECONOMIC DISCOURSE SERIES)

Thomas E. Woods, The Economic Crisis & The Federal Reserve (6) (ECONOMIC DISCOURSE SERIES)

Thomas E. Woods, The Economic Crisis & The Federal Reserve (7) (ECONOMIC DISCOURSE SERIES)

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