The Depression Reader
is No Such Thing as a Free House
remarked that the best indicator of a recession is the number of
times "Mises" "Hayek" or "Austrian"
appear in the newspapers. During the boom, no one wants to listen
to the lessons of the Austrian economists. No one wants to hear
that we need to live within our means that the Federal Reserve
does not have the power to print us into prosperity by artificially
creating credit. So while the writers of LewRockwell.com were warning
against the housing bubble and the inflationary nature of the Fed,
the mainstream was touting the economic wisdom of Bernanke and Greenspan.
When this recession hit, it seems everyone except the Austrians
was caught off guard. Commentators, bureaucrats, and politicians
began panicking, "Something must be done! This is Something…therefore
it must be done!"
looking to the mainstream for answers to this crisis, why not look
to those who saw it coming?
For those new
to Austrian economics, this reader will offer an introduction to
this unique school of thought. It is unlike any other school of
economics you have likely come across. Instead of focusing on unrealistic
mathematical models, the writers here build their thinking on human
action and observations of how the economy actually runs.
is not necessarily the specific political opposition to this
bailout, but rather educating people about the dangers of nationalization,
central banking, and government regulation. Only when people recognize
the dangers of the government’s "socialism for the rich"
will we be able to get back on the road to prosperity. Unfortunately,
a correction is necessary. There is no such thing as a free house.
The more the government intervenes, the longer and more painful
it will be. But this crisis gives the country a chance to rethink
its previous assumptions about the economy and the government’s
role in it. Hopefully, this reader will be a first step for many
into an exciting, growing branch of economic thought.
Trust the Brain Trust,
Lew Rockwell, October 7, 2008.
Bailout of Abominations, Robert Higgs, October 6, 2008.
Political Class Crosses the Rubicon, James Ostrowski, October
on a Bailout, Ron Paul, October 2, 2008.
(Near) Death of the State, Lew Rockwell, September 30, 2008.
Good News About the Bailout, Geoffrey Pike, October 8, 2008.
Becky Akers, September 20, 2008.
Hoover’s Depression, Murray Rothbard.
by Decree, William Norman Grigg, September 20, 2008.
the Bailout, Lew Rockwell, September 11, 2008.
Government is Not Promoting Stability, Bob Murphy, September
of Reckoning, Pat Buchanan, September 27, 2008.
Depressions: Their Cause and Cure, Murray Rothbard.
on the Fannie Mae/Freddie Mac Bailout, Bob Higgs, July 17,
Out of the Way, Anthony Gregory, July 18, 2008.
Mises Institute’s Bailout Reader
the Government, Murray Sabrin, October 10, 2008.
Month When Reality Invaded, Gary North, October 4, 2008.
the Victim: The Free Market, Gary North, September 27, 2008.
the Responsible, Kevin Duffy, October 8, 2008.
William Norman Grigg, September 18, 2008.
the Crisis, Lew Rockwell, September 20, 2008.
Impending End of the Housing Bubble, Bill Bonner, September
the Housing Bubble Popping?, Mark Thornton, August 8, 2005.
Goes the Bubble, Gary North, August 23, 2003.
Land-Price Bubble, Doug French, June 10, 2003.
Hamilton Has Wrought, Thomas DiLorenzo, October 6, 2008.
Dictatorship Comes to America, Michael Rozeff, October 6,
to Avoid a Depression, Michael Rozeff, October 4, 2008.
Michael Rozeff, September 17, 2008.
and Inflation, Lew Rockwell, June 9, 2008.
Not Abolish the Fed, Jacob Hornberger, February 5, 2008.
Run on the State, Bill Huff, September 27, 2008.
and Austrian Economics
and Freddie, Ron Paul, September 10, 2003.
Market?, Mark Thornton, February 9, 2004.
Told You So, Mark Thornton, March 24, 2007.
Oil Prices: Told You So, Dom Armentano, September 10, 2008.
Problem With Fiat Money,
Guido Hulsmann, October 10, 2008.
Counterfeiting Federal Reserve, Joe Salerno, October 8, 2008.
for the Inflationary Depression, Peter Schiff, October 6,
French on Fractional Reserve Banking,
October 1, 2008.
Hulsmann on Hyperinflation, September 29, 2008.
Paul on the Panic of ’08, September 18, 2008.
Rockwell on the Michael Reagan Show, September 26, 2008.
Higgs on War and the Economy, September 25, 2008.
Berger on Financial Markets, July 31, 2008.
Higgs on the "Crisis," September 24, 2008.
Salerno on the Broke Banks, July 23, 2008.
© 2008 LewRockwell.com