The Humble Libertarian original

"I admit it: I was looking forward to the release of Thaddeus Russell's new book, A Renegade History of the United States . After all, Russell came pretty highly recommended by no less an authority than our own Tom Woods , who wrote in a column for LewRockwell.com back in March of last year that "Thaddeus Russell is a progressive historian who is friendly with libertarians, and with whom I myself have had some valuable correspondence." ... In Russell's revisionist view of American history, you see, there is 'an enduring civil war' between these two factions — the 'renegades' and the 'moral guardians', whom he also calls the 'disciplinarians.' But it seems to me that to properly understand what these two factions represent and where they came from — how they came to be as they are — you need to understand some basic facts about the settlement of the British colonies in North America. Russell doesn't go into these facts, so I...

"Most people have never really met crystal meth; sure, they talk about it on the news a lot, but how many average Americans know anyone who is a meth user? The drug goes by many names: methylamphetamine, N-methylamphetamine, desoxyephedrine, speed, and — most commonly — meth. Regardless of what it is called, methamphetamine is absolutely one of the most dangerous and addictive drugs on the black market today. ... economics provides the best explanation for the surge in popularity of meth despite the disproportionate danger of its use. Increased enforcement of drug laws, backed by increased penalties, led to higher prices and decreased availability of preferred recreational drugs such as marijuana and cocaine. High prices and periodic shortages led drug dealers and consumers to find substitutes — ersatz goods that would produce similar results but at a lower cost. The scourge of crystal meth is another example of the "potency effect" or what has been called the "...

The Mises Institute, more than any other organization, has heeded the Misesian injunction by taking what has sneeringly been called a "populist" approach, but which would be more accurately characterized as public education in the best sense of that term. The Mises Academy was a natural next stage in the Mises Institute's pedagogical mission. We already had the online, openly available literature (and other media) to fill out a world-class syllabus, thanks to the tireless efforts of Mr. Tucker and his editing and development team. We already had the expert teachers, thanks to the educational groundwork provided years ago by Murray Rothbard and his students. We already had the growing throng of potential students, largely thanks to Ron Paul's efforts. And we already had the communicative catalyst of the Internet at hand, finally powered with the technology to make an all-online course effective. The Mises Academy brought these four reactants together, and the result ...

"... Austrians therefore argue for privatizing money production, shutting down central banks, and letting the market decide what kind of money people want to use. Government wouldn't have to play any active role in the workings of a free-market monetary system. One may hold the view that precious metals — in particular gold and silver, and to some extent copper — would be the freely chosen, universally accepted means of exchange. In other words, they could become money once people have a free choice in monetary matters. However, Austrian economists wouldn't call for establishing a gold standard, let alone a gold standard with (government-sponsored) central banking: they would argue for free-market money, under which, presumably, gold would become the freely chosen money" Read the rest of this article by Thorsten Polleit at mises.org . Eric Sharp , Regular Columnist, T H L Articles Author's Page

Last month, in November the Mises Institute of Canada was unveiled. This is a historic moment for a nation so riddled with collectivism and socialism. (Not that the US is in very much better condition) To quote their About page "The Ludwig Von Mises institute of Canada was founded in November of 2010 in order to spread the teachings of the Austrian School of Economics to Canada and around the world. Please sign up to receive the Canadian Mises Daily in your in box. It has been 80 years since the beginning of what later became known as the “great depression”. Canada made many of the same mistakes that the United States made when it came to economics and state intervention in the market that Herbert Hoover and FDR did. A quote from R.B. Bennett (Conservative PM of Canada, August 7, 1930 – October 23, 1935) On his own Canadian take on the New Deal “In my mind reform means government intervention. It means government control and regulation. It means the end of Laissez-faire …. I...

"The Internet knows no borders, jurisdictions, or physical limitations. A server in Nigeria can be accessed from the United States. One simply has to look at the number of pirating websites seemingly immune to intellectual-property laws. This global network of information dispersion has made irrelevant the state's tools of repression: How can a nation's costume-sporting thugs effectively stop something that does not physically exist within their geographic jurisdiction? How can a government threaten with regulation an entity that operates outside its ability to enforce its laws? The state has been left behind." Read the rest of this invigorating article by Jonathan Catalan here. Eric Sharp , Regular Columnist, T H L Articles Author's Page

This spectacular edition of the great work has all the makings of a game changer. In a mere 24 hours after release it became the Mises Institute's all-time bestseller. The masterpiece first appeared in German in 1940 and then disappeared only to reappear in English in 1949. It was a sensation; the largest and most scientific defense of human freedom ever published. And now, in 2010, the seemingly impossible has happened: Human Action, the magnum opus of the ages, is in a pocketbook edition at a ridiculously low price. History might record that this edition is the one that changed the world. Mises's fantastic and timeless treatise has never been in a more portable, accessible, and giftable edition. Just imagine giving or receiving this gem, this treasure, as a stocking stuffer! This is not an abridged edition. It is the full treatise from front to back, the mind-blowing explanation of the economics of freedom, right in the palm of your hand. The text is reduced to 80% of...

In his interview with the CNBC on November 9, 2010, a highly regarded Wall Street economist, Nouriel Roubini, the cofounder and chairman of Roubini Global Economics, said that a gold standard is unlikely to stabilize the financial system. On the contrary, holds Roubini, such a standard can only make things much worse. ... On a gold standard, argues Roubini, the central bank will not be able to successfully counterbalance these tendencies. An economy on a gold standard would continue to reinforce the existing negative trends in the business cycle, he maintains." Frank Shostak refutes all this and more here , at Mises.org. Eric Sharp , Regular Columnist, T H L Articles | Author's Page

The national furor over the TSA's new procedures — culminating in yesterday's " Opt Out Day " — has elicited the typical response from the bureaucracy and its apologists. Why, these invasive scans and "enhanced pat-downs" are only for your good, in order to ensure safe flying. You don't want another attack, do you? This is a false tradeoff. Especially in the long run, there is no tension between freedom and safety. If airport security were truly returned to the private sector, air travelers would achieve a much better balance of privacy and legitimate security measures." Read the rest of this excellent article by Robert P. Murphy here . Eric Sharp , Regular Columnist, T H L Articles | Author's Page

"... The problem with Bernanke is that he is working with mainstream theory and ignoring history. He thinks deflation is bad, but unlikely to happen. If it does happen he will use weapons of mass economic destruction to stop it. In reality, deflation of prices is a normal aspect of the market economy as the production of goods outstrips the production of money resulting in higher real wages in a growing economy. The healthiest of economies will exhibit falling prices." Read the whole article by Mark Thornton at Mises.org Eric Sharp , Regular Columnist, T H L Articles | Author's Page

World Bank president Robert Zoellick has stirred up a hornet's nest with his recent call for a return to a gold anchor [1] in the global financial system. The usual suspects immediately denounced him, with Keynesian Brad DeLong anointing Zoellick the " Stupidest Man Alive ." In the present article I'll explain the resurging interest in the yellow metal. I'll also explain the dangers of Zoellick's proposal, and why fans of the classical gold standard should be wary. Read the rest of this article by Robert P. Murphy here . Eric Sharp , Regular Columnist, T H L Articles | Author's Page

" The leviathan state is the great enemy of American prosperity, the monster that devours wealth. Every bit of economic growth that we experience is due not to the presence of this leviathan, but to the ingenuity of American enterprise in getting around the barriers . To understand how this works, imagine the US economy as a car on a racetrack. Private enterprise, in addition to building the car, provides the fuel, maintenance, and technical innovations that make it run. The government, meanwhile, is in charge of the track, and it puts tacks on the road, increases the sharpness of the turns, and adds speed bumps, as it burns with envy. In order to keep the car traveling forward at a fast rate, private enterprise has to innovate constantly, adding horsepower, tack-proof tires, and drivers that are ever-more skilled. Private enterprise can never rest in its efforts to overcome the ever-intensifying demands on the car and driver. All the while the Federal Reserve stands by to tempt t...