Posts Tagged ‘economics’

Economics in One Lesson is an excellent book by Henry Hazlitt that attempts to help people to correctly think through any economic situation. The one lesson is reduced to a single sentence on page 5 of the Mises edition:
The art of economics consists in looking not merely at the immediate but at the longer effects [...]

The senate voted to pass their version of the $700 billion bailout of the rich by the poor.  I wasn’t suprised to find that Lindsey Graham voted for it.  It is great to see that Jim DeMint is one South Carolina senator with some economic sense.  You can see how your senator voted here.
Now would [...]

The Campaign for Liberty website has posted a tally of today’s vote on the bailout plan. Check it out to see how your congressman voted.
Update: that link no longer exists but you can find updated information on the final vote at Final Bailout Vote Tally.

The Mises Institute has posted a list of articles by subject area that will help anyone trying to understand the current ecnomic situation.  It’s available at The Bailout Reader.

Ron Paul in July 2002 spoke to the house when he presented his bill, the Free Housing Market Enhancement Act.  His speech, Government Mortgage Schemes Distort the Housing Market, can be read in full on his congressional website.  Ron Paul predicted the crash in the housing market:
Ironically, by transferring the risk of a widespread mortgage [...]

Ron Paul has a new article, The Creation of the Second Great Depression, at LewRockwell.com pointing out some of the problems with the proposed economic bailout.  Go read the article for yourself and then contact your congressman and senators.  A couple of interesting quotes follow:
Whenever a Great Bipartisan Consensus is announced, and a compliant media assures [...]

The Mises Institute has just republished Murray Rothbard’s book The Mystery of Banking.  I hope to get this soon and add it to my reading list.  This book in addition to America’s Great Depression, The Case Against the Fed, A History of Money and Banking in the United States, and What Has Government Done to [...]

Natural men do not like the free market because it leaves everything to chance. Basic evolutionary theory postulates a universe of spontaneous change. “Survival of the fittest” at it’s core seems to indicate that man will take his chances and the “best” man or animal will win.
In a controlled or socialist society men [...]

George Reisman has written a great article titled, Barack Obama and Sarah Palin on Taxing Oil Companies and Giving the Money to Others. The following quote shows a basic lack of economic understanding from both sides of the aisle:
A major consequence that both Obama’s and Palin’s plans overlook is that even insofar as the [...]