Issue CCLXXVII

February 13-14, 2011

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Econonics
Investors Finally Fear the Inflation Precipice:
Robert P. Murphy

February 14, 2011
Well it's about time. The headline on Monday's CNBC article announces: "Investors Starting to Believe That Inflation Threat is Real." No one knows the future for certain. But given the economic and political realities, Dr. Robert Murphy still remains confident that prices quoted in US dollars will continue to escalate, not only in commodities and certain asset classes, but eventually in most consumer goods. At some point it will be so obvious that not even Ben Bernanke will be able to deny it.

Deception at the Fed:
Ron Paul

February 14, 2011
For the past three decades, the Federal Reserve has been given a dual mandate: keeping prices stable and maximizing employment.  Rep. Ron Paul writes that this policy relies not only on the fatal conceit of believing in the wisdom of supposed experts, but also on numerical chicanery. 

Does Paul Krugman Understand Arithmetic?:
Charles N. Steele

February 14, 2011
A recent post by Paul Krugman begs for a response. Krugman comments on the recent Pew poll regarding public attitudes towards budget cutting, and notes that while a majority polled wants federal speding to be cut, when people are polled on specific programs, a majority opposes cutting any particular program area. Krugman suggests this means people think the laws of arithmetic can be repealed.  Dr. Charles Steele thinks it means Krugman doesn't understand arithmetic, nor does he understand social choice theory.

Fiction
Libertarianism and Science Fiction: What's the Connection?:
Jeff Riggenbach

February 14, 2011
Some people will tell you that there's a natural affinity between science fiction and libertarianism. Jeff Riggenbach explores this idea and discusses several works of science fiction from the mid-twentieth century that exemplify such a connection.

History
Henry Hazlitt and the Rising Libertarian Generation:
Jeff Riggenbach

February 13, 2011
Through his research for high-school debate in the 1960s, Jeff Riggenbach came upon the writings of Henry Hazlitt (1894-1993), which illuminated his understanding of economics and free-market thought. In this article, Mr. Riggenbach describes Hazlitt's intellectual development and influence.

Politics
Mauritius: A Glimmer of African Freedom:
Sterling T. Terrell

February 13, 2011
Without a doubt, the nation of Mauritius is the freest country that you've never heard of — indeed, it is the freest country in all of Africa. Located far off the east coast of Africa, just east of Madagascar, Mauritius is an island that rests on the west side of the Indian Ocean. With a population of about 1.3 million people living on a little more than 2,000 square kilometers, Mauritius's citizens enjoy a temperate climate, beautiful scenery, and a life in one of Africa's least corrupt countries, according to Transparency International. Sterling T. Terrell describes how Mauritius has managed to avoid many of the problems that imperil most of Africa.

Pondering Intelligence, if Any, at Intelligence Agencies:
Fred Reed

February 14, 2011
Fred Reed questions the potency of American intelligence agencies. It seems to Mr. Reed that they are clowns, incompetent at their assigned work but adept at causing grave problems for the United States. Their almost comic ineptitude lies hidden behind a veil of romantic secrecy a la James Bond. Mr. Reed invites us to look at their known record.

Political Pressure to Fix Energy Problems of the Future:
Marita Noon

February 14, 2011
The country continues to be hit with extreme winter weather. Last week a state of emergency was called in New Mexico because of natural-gas disruptions. The experience points out the interconnected nature of energy and the potential for similar problems nationwide if changes are not made to the energy policy. Marita Noon draws attention to the importance of an energy policy that focuses on reliable electricity.


Greens Lie, Africans Die:
Paul Driessen and Robert Novak

February 14, 2011
As malaria deaths continue to mount – thanks in no small part to false claims and constant anti-DDT, anti-insecticide attacks by radical environmentalists – it is vital that we work even harder to safeguard lives in malaria-endemic areas. Paul Driessen and Robert Novak attempt to pave the way – pulling no punches, because so many lives are on the line.


Going Broke by Going Green:
Harry Jackson, Jr., and Niger Innis

February 14, 2011
As Bishop Jackson and Niger say, misnamed “green energy” policies severely undermine our jobs, revenues, health, and any opportunity America may have to rebuild her economy. Perpetuating current jobless rates would be just the tip of the iceberg, if we follow the path that EPA and the White House have put in front of us. We cannot afford to go broke trying to go green.

 "The member of a contractual society is free because he serves others only in serving himself. What restrains him is only the inevitable natural phenomenon of scarcity." 
~ Ludwig von Mises