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The Circle Bastiat


  • The Problem with the Sun
    In 1845,  Frédéric Bastiat   penned a satirical masterpiece with the long lumbering title of “A PETITION From the Manufacturers of Candles, Tapers, Lanterns, sticks, Street Lamps, Snuffers, and Extinguishers, and from Producers of Tallow, Oil, Resin, Alcohol, and Generally of Everything Connected with Lighting.” This faux open letter to the French Parliament told its members [...]

  • Facebook and the Public Company
    Early reports describe Facebook’s much-ballyhooed IPO as a dud. This seems to support The Economist’s worries about the future of the public company, a theme raised by Michael Jensen in a famous 1990 article. Indeed, the corporate form has been hammered lately, the victim of particularly burdensome regulation under the Sarbanes-Oxley Act and other schemes. [...]

  • AE in the FT
    Mises, Ron Paul, and the Austrian Business Cycle Theory cited in this published letter from an Irish gentleman in the Financial Times. Sir, In response to the correspondence (Letters, May 7) in relation to Ron Paul’s op-ed “Our central bankers are intellectually bankrupt”, I would suggest the gentlemen first acquaint themselves with Austrian economics before proposing [...]

  • Mises.org Web Ranking Bump
    On the “Most Visited Libertarian Web Sites” list, we climbed a spot, from #7 up to #6!

  • Peter Klein answers questions from the Austrian_Economics Reddit
    Dr. Klein discusses economics PhD programs, higher education, the business cycle and entrepreneurship, limits to the size of a firm, corporate personhood, the state of Austrian Economics, Keynesianism, Hayek on money, and Lachmann.

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Newsflash


The war in Iraq has been raging now for 7 years, and can anyone honestly tell me what we're still doing there? First, it was about Terrorism links. Then it was about Weapons of Mass Destruction. Then it was because we had to stop Islamic Extremists. Then it was about stabalizing the country (which interstingly we destablized in the first place).
Then they stopped giving excuses and instead justified the preemptive war because we got rid of a brutal dicator who hated the U.S. and committed atrocities against civilians (which we've done as well with our drone strikes in Iraq, Afghanistan and Pakistan). But now, for the life of me, I can't figure out why we're there. And it seems that the present administration just isn't offering any excuse or answer at all. President Obama has continued the same war policies as the Bush Administration, and all we have to show for it are larger deficits and more bodies of young soldiers to be buried in Arlington. Way to go Prez.

Check out the Faces of the Fallen at the Washington Post to remind yourself that we're still in a war in Iraq, and that we've lost over 4,300 soldiers there for a cause that our government can define.

Quotes

The worst evils which mankind has ever had to endure were inflicted by bad governments. The state can be and has often been in the course of history the main source of mischief and disaster. -- Ludwig von Mises




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