Over the last couple of years we have been tracking the various bail-out schemes concocted by ingenious Eurocrats. It is truly fascinating to observe these people get entangled in one lie after another; always trying to resolve the old lie with a new one. The hard cold truth is of course that Europe is bankrupt!…
We will take the easy way out today and present reason #6 by referring the reader to Professor Reisman`s work, and then direct the reader to an earlier article published on Bawerk.net for reason #7. The reason is simply because we have been swamped with work on an article that will present the unsustainable path…
In their quest to avoid reality, our parents tried to re-establish the medieval practice of guilds to protect their own interest from our generation In medieval time’s workers formed associations or guilds to control the practice of their particular craft. A guild was basically a state granted privilege designed to keep potential new comers from…
Ludwig von Mises allegedly said that “government interventions create unintended consequences that lead to calls for further intervention, and so on into a destructive spiral of more and more government control” We agree with von Mises as this is exactly what has happened in labour markets. Our parents felt it was their right, given by God…
Inflation is another word that has become completely confused in everyday conversation. Inflation used to mean an undue expansion of the money supply. By undue, one would refer to an increase in the money supply over the supply of gold. Today, on the other hand, our parents refer to a general increase in consumer prices when they speak of…