BankNotes Archive – May 2015
BankNotes Articles from May 2015
Grade Inflation Eats Away at the Meaning of College
by George C. Leef Every so often, the issue of grade inflation makes the headlines, and we are reminded that grades are being debased continuously. That happened in late March when the two academics who have most assiduously studied grade inflation — Stuart Rojstaczer and Christopher Healy — provided fresh … Read more
Read MoreVISION – Chapter 11 – Why Not Separate School And State?
By Leonard E. Read Power tends to corrupt, and absolute power corrupts absolutely. –LORD ACTON The question I wish to pose, and seek to answer, is this: Does government–organized force–have any more rightful role to play in education than in religion? The sage observation by Lord Acton (1834-1902) is really … Read more
Read MoreOur Current Illusion of Prosperity
APRIL 1, 2015 — Frank Hollenbeck President Obama and Fed Chair Janet Yellen have been crowing about improving economic conditions in the US. Unemployment is down to 5.5 percent and growth in 2014 hit 2.2 percent. Journalists and economists point to this improvement as proof that quantitative easing was … Read more
Read MoreWhy the Austrian Understanding of Money and Banks Is So Important
FEBRUARY 17, 2015 — Jörg Guido Hülsmann This article is adapted from the foreword to Finance Behind the Veil of Money: An Austrian Theory of Financial Markets by Eduard Braun. The classical economists had rejected the notion that overall monetary spending — in current jargon: aggregate demand — is a … Read more
Read MoreGovernment Regulation: Another Hidden Tax
MARCH 16, 2015 — D. Brady Nelson Perhaps due to it not being as readily quantifiable as government taxation, debt, welfare, and money creation; regulation has too often been superficially dealt with. In many ways, the largely “hidden tax” of regulation is a bigger threat to liberty, economy, and morality … Read more
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