Tom Woods is known for many things, among them breaking down the absurd costs of our government in his book Meltdown. In his tribute to leftist economist Seymour Melman, Woods explains the cost of the U.S. war machine. I highly recommend anyone who has the time read the paper, found here.
Hyperinflation is defined by ever-increasing inflation and the public’s subsequent loss of all confidence in the value of currency. Different economic texts draw different lines as to what is severe inflation versus hyperinflation, but all of them agree that deficit financing is always the reason a country experiences hyperinflation. Many argue that our technocrats are…Details
Our fiat system: learn it, know it, explain it to others…
Filed under “something everyone should know.”
ZH recently laid out a multi-faceted case detailing how inequality is caused by government intervention. I believe the case is pretty strong there (much stronger than the bare assertion that the “free market – WHERE?! – is doing this), but it misses one of the basic principles of inequality that most people do know about…Details
I would urge readers, no matter experience with arguments for and against the Federal Reserve, to read this piece, detailing how the existence of the Federal Reserve has increased the gap between rich & poor, thanks to the Cantillion Effect and Fractional Reserve Banking. The theory is expansive and has the explanatory power that the…Details