Archive for the ‘Government’ Category

Fighting the Recession: An Ill Wind Indeed

Fighting the Recession: An Ill Wind Indeed“[It is an] ill wind which blows no man good.” – William Shakespeare

Fighting the recession: an ill wind indeed!

I don’t know what I did before YouTube. With just a few mouse clicks, I can pull up literally hundreds of interviews, editorials, and broadcasts about anything that suits my fancy. And lately, my fancy consists of interviews with some of the most vocal and compelling philosophical, and financial minds daring to speak out against the atrocious fiscal policies the U.S. is employing to battle this economic crisis. Read On…

The Intrinsic Value of Nothing, Part Two

Intrinsic Value of Nothing“There is no such thing as prices outside the market. Prices cannot be constructed synthetically, as it were…

It is ultimately always the subjective value judgments of individuals that determine the formation of prices…”

— Ludwig von Mises, Human Action

“During thousands of years, in all parts of the inhabited earth, innumerable sacrifices have been made to the chimera of just and reasonable prices.” – Ludwig von Mises, The Theory of Money and Credit

In my previous article (Part One of this two-part series), I discussed the fallacy of intrinsic value – especially as it relates to the U.S. dollar, and the shell game the federal government has been playing for the last hundred years or so. In the tornado of debate, castigation, and general mayhem that ensued, some good points emerged – not the least significant of which was the observation that there is a difference between exchange value and use (or utilitarian) value. Read On…

The Intrinsic Value of Nothing, Part One

Intrinsic Value of Nothing“Action is purposive conduct. It is not simply behavior, but behavior begot by judgments of value, aiming at a definite end and guided by ideas concerning the suitability or unsuitability of definite means. . . . It is conscious behavior. It is choosing. It is volition; it is a display of the will.” – Ludwig von Mises

Reach in your wallet, and pull out a dollar bill. Look at it for a moment. Now ask yourself, what is this worth? Next, consider the intrinsic value of nothing — because the idea that anything has “intrinsic value” is a fallacy. Read On…