Throughout the time period of the Great Depression, a battle of economic theory was being waged in the US. The liquidationists like Lionel Robbins and his 1934 Treatise on the Great Depression, believed that government…
Rothbard wrote extensively on unions, and believed that laborer’s lack sufficient information on price relationships gathered by the entrepreneur. Laborers fighting for better compensation disrupts the natural market forces of increased productivity.Increased productivity is a…
A couple days ago, we covered the 1929 stock market crash in our New Deal series, and I had mentioned that cheap credit and monetary expansion helped inflate this bubble. What we didn’t yet discuss…
French economist Frédéric Bastiat, a classical economist who heavily influenced the austrian school of thinking, released an economic essay in 1850 titled “Ce qu’on voit et ce qu’on ne voit pas” or “That Which We…
As we continue our series on the New Deal, it is important that we spend some time covering the precursors of the Depression, including what led up to the Great Stock Market Crash of 1929….
There seem to be some misconceptions surrounding what constitutes a “fiat currency”. I’ve seen people wrongly call a whole number of things fiat, but in order to distill any argument, you should always start with…
Yesterday we took a look into FDIC and its hairline illusion of solvency. But this isn’t the only “social safety net” put together by the FDR administration during the New Deal. The Social Security Act…
I know everyone is talking about stock market all time high’s right now, but its hard for me to hear them over the sound of hundreds of trillions in unfunded liabilities. Unfunded liabilities are debts…
The Emergency Banking Act of 1933 was a series of reforms made by the Federal government (driven by the FDR administration) to stabilize the banking system. We will find many common threads in our coverage…
If you haven’t yet had the opportunity to read Jeff Booth’s The Price of Tomorrow: Why Deflation is the Key to an Abundant Future…I cannot recommend it enough. We recently did an interview with him…
