books

 

For anyone interested in learning about Money, Banking and Business Cycles, I highly recommend this book. It is massive and an excellent treatment of the subjects from an Austrian perspective. Furthermore, its price is about 1/3 of what I paid. Outstanding bargain and outstanding presentation.

Money, Bank Credit, and Economic Cycles
Only a few 2nd edition copies remain! Get them while they last!
Jesús Huerta de Soto, professor of economics at the Universidad Rey Juan Carlos, Madrid, has made history with this mammoth and exciting treatise. He integrates sweeping history and rigorous theory to make the good-as-gold case that the institutions of money and banking can be part of the free market — without a central bank, without bailouts, without inflation, without business cycles, and without the economic instability that has characterized the age of government control.

 

 

Some recent posts have dealt with our oppressive government. They merely point out what others have long ago.

Readers of Austrian economics are familiar with these problems. Warnings began virtually with the inception of the study of human nature. For the Austrians, whether you date that as the Spanish Scholastics or Carl Menger, the benefits of freedom were clear. So were the inefficiencies and cruelties of authority when freedom was constrained.

Hayek, Rothbard, Mises and others outlined where bad policies inevitably lead. Hayek’s “The Road to Serfdom” is the most popular book for layman, and it was published three-quarters of a century ago. Mises warned much earlier than that, in his monumental work, “Socialism” in 1920. He continued to warn until his death in 1973.

Hans Herman Hoppe and the late Murray Rothbard became more contemporary “Paul Revere’s” for freedom and liberty.

Ayn Rand, not an economist but a philosopher, enlightened millions through her fiction. “Atlas Shrugged” is alleged to be the only book that comes close to the bible in terms of readership. One of Rand’s disciples, Leonard Peikoff, published a less well-known book in 1982 entitled “The Ominous Parallels.” The subtitle was “The End of Freedom in America.”

Most readers are not familiar with this work, but it applies to what is happening today. While it was written and relevant thirty years ago, it is more so today. To determine whether you might want to read this book, the late Roy Childs overview may save you some time. Childs’ review quotes Ayn Rand from the introduction:

It will bring order into the chaos of today’s events

Click on the image above to go to Amazon to see some other reviews.

 

 

Thomas Sowell recommends a list of books around Christmas time. His current list is out along with his comments. Here is one on Theodore Dalrymple:

My all-time favorite among Theodore Dalrymple’s books is “Life at the Bottom.” (Buy the book in Kindle Edition for $5.00 by clicking here) It is based on his chilling experiences working in a low-income, predominantly white neighborhood in Britain. It is a classic examination of the moral squalor produced by the welfare state and its ideological rhetoric, regardless of race.

See his list and comments here.

 

My recent post regarding Atlas Shrugging produced a well-written comment from reader Michael Brown (website here). Mr. Brown is an obvious Ayn Rand supporter (as am I mostly) and presents some interesting perspective on Ms. Rand. For those Rand supporter or bashers, these comments are reproduced:

Contrary to so much of the disinformation out there about her, it isn’t the case that Ayn Rand was against charity. She was personally charitable to her friends and donated to help Israel defend itself. In her own words: “My views on charity are very simple. I do not consider it a major virtue and, above all, I do not consider it a moral duty. There is nothing wrong in helping other people, if and when they are worthy of the help and you can afford to help them. I regard charity as a marginal issue. What I am fighting is the idea that charity is a moral duty and a primary virtue.”

Her point was that you have to have a healthy non-charitable sector in order to be able to provide charity, and that economic freedom (and nothing else) provides that health. How much can one donate if one is starving or dies at age 35, as before technology one did.

Government welfare is a perversion of charity because it is ill-managed and cripples the productive sector over time. Look at the tens of trillions in unfunded liabilities that are going to cripple our economy; and it’s just going to get worse unless we get the system right.

One part of the foolishness of the recent debates about Rand is the idea that agreeing with Rand’s prediction and diagnoses in “Atlas Shrugged” – the accuracy of which has been demonstrated in the last few years to a nicety – somehow magically commits one to agreement with her total philosophy. Would this argument be extended to an atheist leftist who recommends Tolstoy or Victor Hugo?

The other part is a specific misrepresentation of Christianity. Christianity is not a pro-Statism religion; indeed, given who killed their Savior, it tends to the anti-State. (This is something the left has not yet dealt with.) Nowhere in the Bible does it say that wealth should be expropriated and redistributed by the dubious means of government structures; it speaks of personal and *voluntary* charity. One might add, looking at the horrific debt and unfunded liabilities situation that the U.S. is in right now, that the Bible and Jesus were wise in staying away from government panaceas.

This entire kabuki charade is in bad faith. The Bible does not advocate any Progressive notions of “economic justice.” The progressives who have suddenly discovered religion and its necessary role in politics – after thirty decades and more of stridently and rightly insisting it must be kept out of politics – are not sincere. After this temporary rhetorical bubble is over, they will resume their previous, also ad-hoc, declarations.

As for the “sociopath” accusation, this is what comes of copying attack website garbage. The whole thing rests upon one author – Michael Prescott’s – highly selective excerpting and chopping up of a private [i.e., thinking out loud without clarifications ] journal written when Rand was barely out of her teens, fresh from the blood bath of 1920s Soviet Russia – and still made it very clear that her read on the personalities of the observers showed that they were not appalled by Hickman’s crime – she said there had been far worse, without the same spectacle of glee – but by his flamboyant and mocking defiance of society. She – who was writing about a *legally innocent man* at the time of the trial – even called him a monster, a pervert, a repulsive and purposeless criminal. Enough with the disinformation and – yes – Satanizing of Ayn Rand.

Atlas Is Shrugging In The US And Flexing His Muscles Elsewhere

Atlas Is Shrugging In The US And Flexing His Muscles Elsewhere

Ayn Rand was mostly correct when she wrote her magnum opus “Atlas Shrugged.” She was incorrect in one important area. She assumed the final option for the wealthy and entrepreneurial class [...]

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Isabel Paterson -- One of Three Key Women

Isabel Paterson — One of Three Key Women

Freedom lovers should learn about Isabel Paterson and her important place in the history of the freedom movement. Doug French provides an article discussing her. Among the tidbits in his [...]

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When Money Dies

When Money Dies

A review: There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic [...]

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See the Socialistic Future

See the Socialistic Future

Socialism lives and continues to grow. Now you can see its future (and yours) as clearly as one gentleman did in 1893! There is no other social organization that has been [...]

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Classical Liberal Books

Classical Liberal Books

This article by Gary Gibson provides a list of books for those interested in exploring libertarian ideas and/or classical liberalism. For beginners, I would suggest you start with numbers 1, [...]

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Walter Williams Interview

Walter Williams Interview

Jason L. Riley of the Wall Street Journal has an interesting interview with Walter Williams entitled “The State Against Blacks.” The title references a book written by Mr. Williams in [...]

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Hazlitt's Great Book -- Economics in One Lesson

Hazlitt’s Great Book — Economics in One Lesson

Economics in One Lesson, by Henry Hazlitt, is a book that should be required reading for every high school student. The book is easily read and beautifully written and should [...]

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Mises Institute -- Top 10 Books

Mises Institute — Top 10 Books

For those interested in freedom and Austrian economics, there is no better source than the Misese Institute. Here is Jeffrey A Tucker’s description of their top ten books: This is [...]

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