Bitcoin and Money

The debate over whether Bitcoin is a money or not has cooled down quite a bit. But it’s still worth understanding what all the fuss was about. To do that, we first need to understand what constitutes a money.

The Batmobile, Value and Prices

Recently, the Barrett Jackson Auto Auction made automotive history by auctioning off the original George Barris “Batmobile” for an astounding $4.5 million. Not a world record but amazing nonetheless. The 1964 Aston Martin DB5 used in James Bond films sold in 2010 for $4.6 million. The value individuals place on such rare automobiles is merely…

The Law of Decay

Any scientist can tell you that all things physical are under a state of decay. Whether it’s as small as an atom or as large as a planet, all matter is in decay. What physicists referred to as entropy or the 2nd Law of Thermodynamics, is in all energy exchanges, if no energy enters or…

What is to Be Done

Back in the 1960’s Economist and Historian, Murray N. Rothbard worked as a reviewer for the William Volker Fund, a conservative and libertarian organization that gave grants to academics for the furtherance of conservative and free market ideas. His job, primarily, was to read and review articles, periodicals and books on political science and economics.…

An Interview with Ron Paul

I have created an animated interview where Congressman Ron Paul explains how the economy really works…. Workers and Wages Workers and Wages Part 2 Workers and Wages Part 3 Workers and Wages Part 4 Workers and Wages Part 5 The dialouge was taken from a paper Ludwig von Mises published in 1958 called, “Wages,…

A Pro-Free-Market Program for Economic Recovery

I don’t do this often, but I have posted a transcript from a talk given in 2009 by Economist George Riesman of Pepperdine Universtity. It was so clear and concise that my notes only lead me having to write the speech out in it’s entirety. So rather than doing that, I thought it better to…

The Failure of Socialism

In an earlier article, “Economic Ignorance“, we discussed the importance of profits and the incentives to gain those profits. At the end of the article I eluded to the failure of socialism. This article will go into some depth of why socialism is a failure. Flesh and Blood We must first begin with the understanding…