These days it’s not your typical latte-sipping millennials who are going woke. Taking a stroll around America’s largest metro areas will have one believe social justice is the latest fad that’s sweeping across corporate boardrooms.
The great free-market economist Milton Friedman was not perfect in his theories as he, too, supported governments controlling the money supply and the monetary policies reinforcing such a system.[1] The .06/04/2021 12:17:54PM EST.
The Anti-imperialist Ludwig von Mises lewrockwell.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lewrockwell.com Daily Mail and Mail on Sunday newspapers.
Contemporary European History (2018), with a surprising interpretation of Ludwig von Mises. According to Slobodian, Mises was a racist who favored colonial wars of subjugation to open the world to trade. In this week’s article, I’d like to look at how Slobodian reaches this conclusion.
The article begins with a quotation from
Omnipotent Government: “How can we expect that the Hindus, the worshippers of the cow, should grasp the theories of Ricardo and of Bentham?” Doesn’t this suggest that Mises regarded Hindus as inferior, unable to comprehend a product of abstract Western thought? But if we look at the quotation in its context, it is apparent that this isn’t what Mises says. The sentence that Slobodian quotes is part of a discussion in which Mises claims that most people are unable to understand their own long-term interests, if doing so requires extended logical thought. Free trade is in everyone’s interest, but most people don’t realize this:
by Patrick Barron via Mises
The seeds of sound-money destruction were sown at the 1944 Bretton Woods Conference, which established that US dollars could be held as central bank reserves and were redeemable for gold by the US Treasury at thirty-five dollars an ounce. This was the so-called gold exchange standard, but only foreign central banks and some multinational organizations, such as the International Monetary Fund (IMF), enjoyed this right of redemption. The system depended upon the solemn promise by the US that it would refrain from issuing unbacked dollars. The watershed event that ushered in a new malignant, pure fiat money era occurred on August 15, 1971, when the US abandoned the gold exchange standard in order to stop the drain on the US gold stock.