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By making these lost Spooner treatises available again after more than a century in seclusion, it is my hope that they will both further our historical understanding of the time in which they were written and offer relevant insights to the evolution of economic ideas in the present day.
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This remarkable book was published in 1932. E.C. Harwood’s ideas about inflation and the business cycle have relevance for our knowledge and for policy discussions today.
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That the President’s words were just passed over without comment or criticism tragically shows how far we’ve strayed from the ideas and ideals on which the country was founded.
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The Hudson train station is especially charming. Indoors features lots of woodwork with a ticket window with iron bars and an old sign above it that says: TICKETS. There are benches around the periphery. You expect to meet an old guy there who is complaining about the policies of President Harding.
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American politics today seems ever more a contest between two forms of state control – progressive/socialist and nationalist/fascist – with both sides deploying populist states of mass agitation with the hope of deploying power to achieve their ends. Where are the liberals? Not many even claim the label.
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Classical liberals and libertarians consider that their defense and insistence upon a principled practice of individual liberty and competitive free markets is no less of a moral necessity and calling than earlier demands for ending infringements on personal and social freedom that were widely taken for granted.
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An amazing book appeared before FDR was elected that explained all economic events, using sound economic logic and evidence. The crash, this book said, was the result of monetary mismanagement by the Federal Reserve and distorted price and interest rate signals.
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Economists are often asked to render economic advice to foreign nations. Sometimes these countries are ruled by dictators. That presents a moral quandary.
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At the end of the Second World War, the United States assumed the helm of global leadership at the international monetary conference at Bretton Woods in the New Hampshire in 1944. The purpose of this conference was to determine the principles of the postwar currency regime.
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Vlad the Impaler and his literary incarnation — Count Dracula — have real historical roots in a dark period of economic nationalism.
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Bagehot’s rules are ultimately geared toward assisting illiquid financial organizations but allowing insolvent ones to fail. The Fed went out of its way to support insolvent organizations.
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Voting may be many things, but the least of them is self-expression. Conceding the sufficiency of multi-billion dollar political contests among highly vetted, meticulously-coached candidates is a guaranteed road to self-negation.
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