Economics of Liberty pptx

[...]... the restoration to dominance of an intellectually bankrupt economic creed, the very same creed that brought us the political economics of every administration since the second term of Franklin D Roosevelt THE ECONOMICS OF LIBERTY 32 It is no accident that the same administration that managed to combine the rhetoric of "getting government off our backs" with the reality of enormously escalating Big... Keynesianism rode high in the economics profession and in the corridors of power in Washington, 28 THE ECONOMICS OF LIBERTY promising that, so long as Keynesian economists continued at the helm, the blessings of modern macroeconomics would surely bring us permanent prosperity without inflation Then something happened on the way to Eden: the mighty inflationary recession of 1973-74 Keynesian doctrine... ownership of the factors of production, and thus no market prices for them, how can we calculate profit and loss? Withou t the ability to make profit and loss calculations, how can we judge the value of resources determine the correctness of various methods of production, or tell whether time and resources are being wasted or put to good use? In a market economy, prices tell us the needs of society... 1776 or today, the cause of liberty would be lost Thanks also to Murray Rothbard, dean of the Austrian school of economics, for his contributions to this volume and his inspiration; to the indispensable Jeff Tucker, managing editor of The Free Market; to Norma Marchman, for keeping everything on track; to Judy Thommesen, for wizardry in publishing; and to Lianne Araki, for proofreading Llewellyn H Rockwell... Keynesianism say? Step on both accelerator and brake at the same time? The stark fact of inflationary recession violates the fundamental 30 THE ECONOMICS OF LIBERTY assumptions of Keynesian theory and the crucial program of Keynesian policy Since 1973-74, Keynesianism has been intellectually finished, dead from the neck up But very often the corpse refuses to lie down, particularlyan elite which would have to... since And in the absence of new federal interventions, it will continue to do so Many people are unaware of this decline, in part because of the visibility of public-sector unions like the postal workers and the National Education Association These unions, observes Constitutional lawyer Edwin Vieira, have "quasi-governmental power" that is "incompatible" with 26 THE ECONOMICS OF LIBERTY "constitutional... THE ECONOMICS OF LIBERTY whose managerial nirvana was the obese NASA Only the attempt of entrepreneurial chairman Frank Lorenzo to forcefeed some economic rationality into Eastern had a chance of saving the company from bankruptcy But his efforts were hamstrung by politically-favored unions And then they attacked Eastern's customers by striking, as well as encouraging their cohorts in the rest of the... violence by (1) outlaWing "interference" 24 THE ECONOMICS OF LIBERTY with coercive union activities; (2) forcing companies to rehire violent union members with full back pay; and (3) seizing the assets of companies that refused to go along At one point, the government even created a union, the Loyal Legion of Loggers and Lumbermen Mter the war-over the opposition of government contractors and their unions-the... and women willing to tell the truth about the coercion, plunder, corruption, and lies of Washington, D.C And this is what the LudWig von Mises Institute's monthly Free Market tries to do, through an uncompromising advocacy of the free market, private property, individual liberty, and sound money 16 THE ECONOMICS OF LIBERTY In this publication and through many other Institute programs, we battle old... only question was the pace of the transition The Marxists and Nazis wanted immediate revolution; the Fabians and New Dealers wanted gradualism But for all of them, laissez-faire capitalism was the enemy 13 14 THE ECONOMICS OF UBERTY Yet no socialist had ever written a scientific defense of socialism, nor a blueprint for exactly how the economy would function when the means of production were collectively . civil rights and Green- o-mania. The first Free Market Reader proved popular on cam- pus and among the general public. This second collection is even more timely. To Perry Alford and the other generous donors who made this book possible, heartfelt thanks. Without men and women like this, whether in 1 776 or today, the cause of liberty would be lost. Thanks also to Murray Rothbard, dean of the Aus- trian school of economics, for his con tribu tions to this volume and his inspiration; to the indispensable Jeff Tucker, managing editor of The Free Market; to Norma Marchman, for keeping everything on track; to Judy Thommesen, for wizardry in publishing; and to Lianne Araki,. 263 The Mandated-Benefits Scheme Sheldon L. Richman 267 Animal Crackers Llewellyn H. Rockwell 272 285 Christian Economics Carl C. Curtis, III 276 Breaking Up the Opinion Cartel Llewellyn H. Rockwell 280 Lyndon Baines Bush? Llewellyn H. Rockwell The Environmentalist Threat Llewellyn H. Rockwell 289 6. THE COMMUNIST CRACKUP Mises Vindicated Llewellyn H. Rockwell 313 The Freedom Revolution Murray N. Rothbard 318 The Old Right Was Right Sheldon L. Richman 322 The Vanishing Spectre of Communism Doug Bandow 332 12 THE ECONOMICS OF LIBERTY The Socialist Holocaust in Armenia Llewellyn H. Rockwell 334 How