BankNotes Archive – August 2015

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BankNotes Articles from August 2015

Why Do We Let Parkinson’s Law Rule Our lives?

August 4, 2015

By R. Nelson Nash C. Northcote Parkinson (1909 – 1993) was an interesting British naval officer who left us some valuable insights into human behavior. His sense of humor makes for good reading. His little essay, Parkinson’s Law, written in 1955, tells us “Work expands to fill the time available … Read more

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VISION – Chapter Two – LESSONS FROM AFAR

August 4, 2015

by Leonard E. Read Thy blessings upon our freedom associates – near and far, past and present – the perfection of our ideas and ideals, and our strict adherence to them. The U.S.A. has been sinking into a socialistic society during the past few decades – with rampant inflation and … Read more

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Don’t Trust the Economic Oracles

August 4, 2015

by Louis Rouanet The positivist ideas dominant among economists led them to agree that, as stated by the motto of the Econometrics Society, “Science is prediction.” We are surrounded by forecasts about numerous economic indicators. “Experts” reveal the rate of growth with .1 percent precision as if they were reading … Read more

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Government Spending on “Innovation”: The True Cost Is Higher Than You Think

August 4, 2015

by Peter G. Klein University of Sussex Professor Mariana Mazzucato is making headlines with her 2013 book The Entrepreneurial State, which argues that government, not the private sector, ultimately drives technological innovation. In a series of detailed case studies from information technology, pharmaceuticals, biotech, and other industries she argues that … Read more

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The Washington Intellectual Gravy Train

August 4, 2015

by James Bovard [This article is an excerpt from May/June 2015 issue of The Austrian.] Intellectuals have long been glorified as champions of truth and defenders of society’s highest values. But in Washington, they serve as Leviathan‘s Praetorian Guard. Intellectuals are thriving in DC thanks in large part to the … Read more

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