Archive for the ‘austrian economics’ Category

The most dangerous man to any government…

2011-06-01 1 comment

Came across this brilliant quote, had to share:

The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, and intolerable, and so, if he is romantic, he tries to change it. And even if he is not romantic personally he is apt to spread discontent among those who are.

– H.L. Mencken

This was taken from a post on the Orphans of Liberty blog – as good a place as any to start if you want to want to think things out for yourself…

The new best economics music video ever made…

Have you seen “Fear the Boom & Bust” yet – quite serious economics dressed up quite superbly as a worryingly catchy hip-hop music video? Either way, the sequel is now out – and it’s even better!

[Suggestion: watch this full-screen in HD!]

Some context:

According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. Yet we’re all uneasy. Job growth has been disappointing. The recovery seems fragile. Where should we head from here? Is that question even meaningful? Can the government steer the economy or have past attempts helped create the mess we’re still in?

In “Fight of the Century”, Keynes and Hayek weigh in on these central questions. Do we need more government spending or less? What’s the evidence that government spending promotes prosperity in troubled times? Can war or natural disasters paradoxically be good for an economy in a slump? Should more spending come from the top down or from the bottom up? What are the ultimate sources of prosperity?

Keynes and Hayek never agreed on the answers to these questions and they still don’t. Let’s listen to the greats. See Keynes and Hayek throwing down in “Fight of the Century”!

Suffice to say, I’m with Hayek…

(H/T: Davy at The UK Libertarian)