individualism for the masses

BK Marcus is an amateur political economist with no formal education in the subject.

He works from Charlottesville, Virginia as an editorial consultant for the Ludwig von Mises Institute and managing editor of Mises.org.

He is no longer a house husband, nor a faculty spouse, but he is still a dilettante and a layabout, at least in spirit.

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"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance."

Murray Rothbard

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Benjamin Tucker Marcus
February 19, 2010

making our simile less hypothetical

February 6th, 2009 by bkmarcus

From “This actually did happen” by Jeffrey Tucker at blog.Mises.org:

In Los Angeles, a window repairman secretly went around breaking windows by shooting them with a slingshot. Times are hard and he needed the business. The police caught him and, because he was a private individual instead of a state, now he is in trouble for his attempt to stimulate the economy.

Thanks Broken Window Watch and Vanguardist.

Posted in LvMI, economics, news | 1 Comment »

Meltdown

February 6th, 2009 by bkmarcus

Meltdown book coverFrom Mises.org:

Why the heck is this happening to us?

What happened to mortgages, to banks, to large retailers, to retirement savings, to stock prices, to the availability of credit? How could so many errors have coincided?

To the media pundits and government officials, this is a market failing that requires the government to take trillions of dollars from you and run the money presses full time. Otherwise we are doomed

But there is another way to look at the great market collapse of 2008: the whole thing, including the bubble that preceded it, is the fault of the government and the Fed.

All attempts to “fix” the problem are like forcing the patient to swallow more of the poison from which he currently suffers.

Mises.org has been making this argument, and warned of the coming crash years ago. But where can you find the argument explained for the average person in a convenient package, without technical jargon and with logic and facts?

Enter Tom Woods with his blockbuster book Meltdown.

It’s all here, all the information you need to understand what is happening and what to do about it.

Posted in LvMI, economics, history, literature, news | No Comments »