BankNotes Archive – October 2015
BankNotes Articles from October 2015
VISION – Chapter Four – The Service Motive
by Leonard E. Read Think success, and you will automatically create the circumstances and the movements leading to success — MICHAL LOMBARDI As Ralph Waldo Emerson wrote, “an institution is but the lengthening shadow of one man.” The one man, an outstanding exemplar and practitioner of this thesis, was a … Read more
Read MoreThe Failed Moral Argument for a “Living Wage”
SEPTEMBER 4, 2015 — Ryan McMaken With Labor Day upon us, newspapers across the US will be printing op-eds calling for a mandated “living wage” and higher wages in general. In many cases, advocates for a living wage argue for outright mandates on wages; that is, a minimum wage set … Read more
Read MoreEconomics Is Dead, and It Is Being Killed Again
August 22, 2015 Per Bylund Economics is dead, and economists killed it. What we have seen over the course of the last eighty years is a systematic dismantling of the contribution of economics to our understanding of the social world. Whatever the cause, modern economics is now not much more … Read more
Read MoreThe Unseen Consequences of Zero-Interest-Rate Policy
AUGUST 8, 2015 — Ronald-Peter Stöferle In a dynamic economy, an action not only triggers just one effect, but always an entire series of different consequences. While the cause of the first effect is easily recognizable, the other effects often occur only later and no such recognition occurs. Frédéric Bastiat … Read more
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