Great Myths of the Great Depressionn

Lawrence W. Reed discusses the latest edition of his primer, "Great Myths of the Great Depression." Recorded at the annual Austrian Scholars Conference, Ludwig von Mises Institute, 12 March 2009.

Again Mr. President, that is not true

During the electionn, the President Elect made the following statement: "Few challenges facing America and the world are more urgent than combating climate change. The science is beyond dispute, and the facts are clear." On Monday, the CATO Institute ran a full page in in the New York Times that contained the following statement, and signed by many top climate change scientists: (To see the full page add, click here.)

With all due respect Mr. President, that is not true.

"We, the undersigned scientists, maintain that the case for alarm regarding climate change is grossly overstated. Surface temperature changes over the past century have been episodic and modest and there has been no net global warming for over a decade now. After controlling for population growth and property values, there has been no increase in damages from severe weather-related events. The computer models forecasting rapid temperature change abjectly fail to explain recent climate behavior. Mr. President, your characterization of the scientific facts regarding climate change and the degree of certainty informing the scientific debate is simply incorrect."

Quote of the Week

"Never doubt that a small group of concerned citizens can change the world. Indeed it's the only thing that ever has."

- Margaret Mead

Milton Friedman takes on Donahue

Enjoy this short two and a half minute video of Milton Friedman on the Donahue show explaining the virtues of Greed.

Rand, Paterson, and Lane

"This Women's History Month, on the sixty-third anniversary of their monumental triple achievement, the Cato Institute pays homage to three women without whom it would not exist."  In an artilcle entitled Three Women Who Launched a Movement, CATO discusses Isabel Paterson's The God of the Machine, Rose Lane's The Discovery of Freedom, and Ayn Rand's The Fountainhead and (later) Atlas Shrugged, all published in 1943.

In a time of great political and economic turmoil, when most people assumed that socialism was the wave of the future, and almost unavoidable, these three women presented the ideas of individualism, capitalism, and the virtue of free markets is such an understandable and persuasive way, that they effected a great intellectual change in American society.  This article got me thinking, we could sure use another Ayn Rand right about now.

Quote of the Week

“You need only reflect that one of the best ways to get yourself a reputation as a dangerous citizen these days is to go about repeating the very phrases which our founding fathers used in their struggle for independence”

Charles Austin Beard

Less Than Nothing

New article on FEE discussing the pressing question, what should the Governement do to stimulate the economy.  Sheldon Richman thinks that absolutely nothing is too much, the better answer is Less Than Nothing.