Monty Pelerin's World

Economics, Finance and Politics Through The Prism of Classical Liberalism

Monty Pelerin's World

Archives for February, 2010

Marco Who?

Who is Marco Rubio? It is likely few know. More inside the state of Florida are learning his name, much to the dismay of incumbent Republic Governor Charlie Crist.  Latest polls suggest that Crist will not survive the primary for re-election. Good news or bad news for Republicans? Time will tell. It seems that it [...]

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History: Monetary Cranks

Image via Wikipedia “Monetary Crank” was a derogatory term used in the past to refer to crazy monetary theories and/or schemes. Its use has fallen out of favor, yet its applicability today is as relevant as it was in the past. Unfortunately what used to be subsumed under the term, now appears to be considered [...]

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Democrats seek distance from Obama as health care reform is revived

Image via Wikipedia There apparently is no limit to President Obama’s hubris and arrogance. He has gotten message after message on health care reform, yet insists on pushing forward with it. Polling data is overwhelming. Recent elections were likely referendums on his health care plan. From a political standpoint, there can be no more toxic [...]

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Wisdom: Marxian Politics

Image via Wikipedia As an economist, I am frequently asked about the economics of Marx. I generally nod approvingly, which usually pleases or perplexes the inquirer. It is only after some discussion does it become apparent that I am talking about Groucho Marx and not Karl Marx. Groucho Marx was an American original. Regarding economics, [...]

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The Fed Feints

Great hoopla over the Federal Reserve’s surprise decision to raise the discount rate 0.25 % fills the media and the markets. Pundits discuss earnestly the spice has been added to the tea leaves. Barry Ritholtz lists three possible motivations behind the Fed’s move: Response to political pressures; Proof the Economy is improving; Inevitable ending of [...]

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The Economic Crisis is Only a Symptom

There are few economic problems that don’t originate in politics. Originally, economics was known as political economy because the early practitioners understood the importance of institutions on economics. One of the early journals of economics was started in 1892 at the University of Chicago entitled The Journal of Political Economy.  It is still one of [...]

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Government Sachs

Bill Bonner is one of the more incisive and entertaining writers. His post below ostensibly deals with Greece but has warnings that should be heeded for the rest of the Western world. The Daily Reckoning Presents Government Sachs Bill Bonner Paris, France – It’s Goldman this. And Goldman that. And Goldman rhymes with greed. But [...]

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Unemployment Duration

Economic conditions are bad. No one except a political lackey would attempt to argue otherwise.  A post in American Thinker by Randall Hoven dealing with unemployment is reproduced below.  The numbers are shocking and tragic. Most accounts believe that the current employment situation is long-term or “structural.” That is, high unemployment rates are expected to [...]

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Depression Diary

The Great Depression: A Diary Historical diaries are intriguing because we know how the era or big picture ended. When the period or person is significant, the day-to-day trivialities take on special meaning. While the trivialities are not too dissimilar to our own minute by minute, hour by hour and day by day events, we [...]

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Stimulus Checks Explained

Some humor received via an email. As in most humor, it works because of the element of truth contained within. Sad but true: Stimulus Checks Explained Sometime this year, we taxpayers will again receive another ‘Economic Stimulus’ payment. This is indeed a very exciting program,  and I’ll explain it by using a Q & A [...]

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