About This Blog

Ludwig von Mises (1881-1973) was the greatest economist of my time. His greatest works can be accessed here at no charge.

Mises believed that property, freedom and peace are and should be the hallmarks of a satisfying and prosperous society. I agree. Mises proved beyond a shadow of a doubt that the prospect for general and individual prosperity is maximized, indeed, is only possible, if the principle of private property reigns supreme. What's yours is yours. What's mine is mine. When the line between yours and mine is smudged, the door to conflict opens. Without freedom (individual liberty of action) the principle of private property is neutered and the free market, which is the child of property and freedom and the mother of prosperity and satisfaction, cannot exist. Peace is the goal of a prosperous and satisfying society of free individuals, not peace which is purchased by submission to the enemies of property and freedom, but peace which results from the unyielding defense of these principles against all who challenge them.

In this blog I measure American society against the metrics of property, freedom and peace.

Friday, January 20, 2012

THE TOP FIVE, 1/20/12

Economic Illiteracy? Obama: Unemployment benefits create more jobs than Keystone pipeline
Anyone who believes that government can't create jobs is fooling himself. Every civil servant in America works at a government-created job. When government writes checks to the unemployed, the government creates a job for the person writing those checks, and for the administrators of the department supervising the writing of those checks, and for the postman who must deliver those checks. Moreover, when the unemployed cash their checks, they spend the cash on food, rent, clothing, gas, cigarettes, etc. etc. Jobs are created in the businesses that produce and market these products. The proper questions are: 1) How many jobs or potential jobs are destroyed in the private market when the government taxes individuals in order to payout unemployment benefits?; and 2) Do government-created jobs or private market-created jobs produce goods and services that best satisfy consumer demand?

Economic & Historical Illiteracy? Ron Paul: Tax Rates Should be Zero
I suggest Ron Paul critics, who suggest the candidate is insane because of his proposal that income tax rates go to zero, follow this link: Taxes.Yes, Virginia, there was a time in American history -- some say the most prosperous time in American history -- when the income tax did not exist. Ron Paul's candidacy is not attractive to economic or historical illiterates. It's very sad that some people are so married to the establishment's welfare state they can't imagine a country in which individuals get to keep the fruits of their labor and do with them as they please!

Foreign Policy Illiteracy? Opposing Imperialism Is Not Isolationism
Again, Paul critics need to take the blinders off and open their mind.

Media Illiteracy or Downright Lies?  
U.S. Media Working With War Profiteering MIC & Politicians To Hype People Up For War
AP Story On Paul’s First Class Flights Debunked – AP Flat Out Lied
All is not what it seems.

Monetary Illiteracy? Fed to Weigh Further Easing Amid Doubts About Recovery
Let's pump up the money supply and goose the economy just in time for the November elections. This could be a January surprise. Hardly political insanity. However, QE3 would be an actual instance of monetary insanity, i.e., doing the same thing over and over again and expecting different results.

Political Illiteracy? Pat Buchanan on Ron Paul
Pat has always seemed the adult in the room.

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