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Robert Higgs's ratchet: government expands massively during war, then partially retracts, but never to where it started. Each crisis leaves behind new agencies, new precedents, new taxes, and a new baseline. The next crisis starts from higher ground. #MisesU

Robert Higgs's ratchet: government expands massively during war, then partially retracts, but never to where it started. Each crisis leaves behind new agencies, new precedents, new taxes, and a new baseline. The next crisis starts from higher ground. #MisesU

19,320 görüntüleme • 3 ay önce

"If all Americans adopted the values of the Amish, cars would have no value—no matter how much they cost to produce. And an automobile factory would have no value either." @JTSale on why Menger's insight still overturns everything you learned in Econ 101. #MisesU

"If all Americans adopted the values of the Amish, cars would have no value—no matter how much they cost to produce. And an automobile factory would have no value either." @JTSale on why Menger's insight still overturns everything you learned in Econ 101. #MisesU

11,198 görüntüleme • 3 ay önce

The gold standard didn’t fail—it was systematically dismantled by governments to expand their control over money. Professor @JTSale explains how and why. #MisesU

The gold standard didn’t fail—it was systematically dismantled by governments to expand their control over money. Professor @JTSale explains how and why. #MisesU

14,331 görüntüleme • 1 yıl önce

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