The monetarist school of thought has evolved within this last century and a half from holding “right-wing” Jacobin-styled (neocon/Knightian) egalitarian goals, to then pursing libertarian means, and has since been perverted back to simpleton “conservatism;” inasmuch as “conservatism” means (to your average person) holding the beliefs of mild center-leftism plus hardcore corporatism, which basically just […]

The way I left off in part one of this article was by mentioning the various problems facing both the solitaire player and the entrepreneur. However, “the entrepreneur” is better stated, psychologically and practically, as an individual acting in an entrepreneurial manner, or an individual employing entrepreneurial tools, or an individual fulfilling entrepreneurial functions, considering […]

david stockman is a genius. he integrates stock analysis, fiscal policy, capital theory, macro theory, and monetary theory into every conversation you hear with him. stockman is essentially the austrian version of m. friedman: please oh god, don’t let this insanely debt-wrought and volatility-prone government-controlled economy kill us (or the government itself kill us, a […]

Who in their right mind honestly believes that a given individual’s diet should be guided by a blanket prescription for everyone? Who actually thinks that people should eat a whopping six to eleven servings of grains, cereals, breads, starches, and so on, while restricting their daily intake of say, meat, to a mere two or […]

I left off in the last article mentioning a tidbit about the RBCT (Real Business Cycle Theory) and its connection to the ABCT (Austrian Business Cycle Theory). Surely, the “Real” part of RBCT sounds precocious, until you understand that it is merely meant to explicate that the business cycles it attempts to describe are caused […]

northlane – scarab “The truth is, we all suffer.” Life is pain, as the Buddhists say; that is in its intrinsic nature, and there is no escape. We are all continually under assault from the state, those that seek to run the lives of others, even those that most ostensibly benefit from such arrangements, due […]

I am not in full agreement with Garrison. Nor, am I, in any kind of full agreement with any Austrian, Chicagoan, New-Classicist, or any economist of any school that thinks the market ultimately serves a purpose; meanwhile, I am especially not in agreement with those that think the market is useless or wrongheaded, and even […]

– one system is wherein people do things that work well for them over time, and thus keep doing them, while discarding behaviors that work poorly for them. think of mises’ “removal of felt unease” inherent to all intentional action. – the other meta-system (containing two similar but separable systems) that creates repeated intentional goal-oriented […]

At the end of part one I mentioned Friedman’s fears of deflation, which I said were a natural consequence of his view that depressions stem from the nature of money itself. Friedman basically said that we should keep the nominal interest rate at zero and shoot for consistent and low inflation each year (around 3% […]

time to placate my brain by way of offering my liver as sacrifice, a savage cosmic toll changed hands, prefacing the pitch-black scuba dive into that all-too-familiar vortex of muddled consciousness engulfed in a swarm of complacent nihilism normally sheathed and hidden like a small bag at the bottom of a half-empty pack of cigarettes […]