Global Economy

Economics is about human choice and action. The praxeological concept of time is not the concept of physics or biology.

In the long run, the religious "peace" of absolutist "moderation" turned out to be the peace of the grave for many Huguenots.

In the America of Thomas Jefferson's Declaration these categories and institutions were to have the opportunity which they were never fully to achieve in their constricted English home.

The problems involved will become discernible as soon as the wartime attitude in the United States toward financial and trade matters is replaced by a more realistic mentality.

The international gold standard works without any action on the part of governments.

The attempts to create a double standard of gold and silver failed lamentably.

"It is only when men are free that they begin to place a value on their time; and when men begin to place a value on human time, they begin to realize the importance of preserving human life."

Whether or not the US economy is "turning Japanese" is still an open question, but is becoming ever more likely as fake fixes are delaying painful economic adjustments.

As Böhm-Bawerk declared, Salmasius's views on usury were the high-water mark of interest theory, to remain so for over 100 years.

"The true villains were clearly the bankers themselves."