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Henry Hazlltt’s The Way to Will Power (1922) is darn near impossible to find, so we are grateful to Gil Guillory for giving us this PDF of the book . The scan is awful but that is not Gil’s fault. It is a mucky edition. If I recall correctly, Hazlitt was later a bit embarrassed by this book, and it was never reprinted. I’m not sure he was right to

A wild debate has broken out at the WSJ blog concerning whether borrowings from the Fed’s new Term Auction Facility is or isn’t inflationary. The background is that since December, non-borrowed bank reserves have plummeted while borrowings from the Fed’s TAF have soared. The debate concerns what all this means. Mark Thornton will offer his

The social-work crowd is puzzled about what to do: there seems to be a stigma attached to eating government-subsidized lunches. It only took 30 years for the NYT to notice . 

Somehow I had forgotten that the U.S. has a thing going on in Somalia. “A local official told Reuters that the missile was fired by a U.S. aircraft. ‘Two U.S missiles hit a house in Dobley early this morning.’...’We woke up with a loud and big bang and when we came out we found our neighbor’s house completely obliterated as if no house existed

A piece of mine posted here : “To compare politicians with entrepreneurs is like comparing two runners in a race, one who stands at the starting line and makes a speech, and another who runs the full distance around the track without saying a word.” If you click on the link and comment there, it might encourage the editors to run more pro-market

Do We Want Free Enterprise by V. Orval Watts is an exciting challenge issued to business in 1944. He points out that business is not necessarily a friend of free enterprise. True free markets would mean an end to cartelizating regulations, tariffs, business subsidies, and every form of privilege that business has learned to love throughout the New

Mises.org has been pushed very hard to comment on the Bitcoin issue, and I’ve probably read and sent 10 articles around for review. We’ve run nothing on it just because the right piece that takes full account of both the technology and robust monetary theory just hasn’t been written. In the meantime, it seems that Bitcoin is tanking . Any

There’s a growing moral scrupulosity going on in libertarian land, to the point that every really existing business is closely examined for any hint of state involvement (sin!), even when one stage removed (sin!), and then, upon discovery, condemned to hell has yet another example of the terrible things that the state does to the world. How does

To the right is an image of Doug French sitting outdoors in a French cafe. Sitting across from him, it took me a few minutes to fully realize that this was not a French cafe and it was not outdoors. It is indoors at the Paris hotel in Las Vegas, a town that provides many such illusions and where you constantly have to remind yourself that you are

When the first Austrian Scholars Conference was held in 1992, we were at the very beginning of the Great Bubble Economy, brought to you by Alan Greenspan and Ben Bernanke and their associates at the Fed. This shiny, bubbly “new economy” has finally gone the way of all bubble economies in history, deflating into stale dishwater and swirling slowly