The
Rational Argumentator
Issue CCLXXXVII
May 8, 2011
Abstract Orderism Fractal XXVIII
G. Stolyarov II
May 8, 2011
This fractal by Mr. Stolyarov employs curvature and luminescence to achieve a smooth, elegant three-dimensional object, with some evocations of a disk, flying saucer, or spinning top.
Abstract Orderism Fractal XXIX
G. Stolyarov II
May 8, 2011
This fractal by Mr. Stolyarov is a vibrant, luminescent "star of stars".
Abstract Orderism Fractal XXX
G. Stolyarov II
May 8, 2011
This is Mr. Stolyarov's sixth insignia fractal. It resembles an ornate medal whose ornaments are based on a theme of wings.
Abstract Orderism Fractal XXXI
G. Stolyarov II
May 8,
2011
Two overlapping pentagons, with some
imaginative ornamentation on the vertices, form this fractal. Note
the subtle patterns in the background.
Economics
The Sphinx Speaks!
Robert P. Murphy
May 8, 2011
The big financial news in late April was the Federal Reserve's first press conference. The financial press and bloggers have already parsed Bernanke's every last syllable, but Dr. Robert Murphy makes some observations that he has not seen elsewhere.
The Economics of Slushy Drinks
Robert P. Murphy
May 8, 2011
"That's quite a markup," remarked Dr. Robert Murphy's father as he paid for Dr. Murphy's six-year-old son's treat after a soccer game. "Three dollars for a cup of ice." It's true; the price tag did seem steep at first. But as they analyzed the situation more carefully — Dr. Murphy's father is also a fan of free markets — they realized that there was no reason to be outraged at the vendor's price.
The Great Myth of the Inflation Cure
Douglas French
May 8, 2011
Douglas French refutes the views of University of Chicago economics professor Casey B. Mulligan that what the economy needs right now is a little inflation in all the right places to make things better. Mulligan writes that normally inflation is harmful, but "these days inflation may do less harm than good." He points out that the prices of most goods march upward over time and that this "general increase in consumer prices is called inflation." Of course, writes Mr. French, that's not true. The increase in prices is the result of inflation, which is the increasing of the supply of money: thus the term "inflating" the money supply. Mr. French brings Austrian economic insights to bear on Mulligan's statements.
They Want Us to Love the Fed
William L. Anderson
May 8, 2011
Dr. William Anderson recently attended the conference "The Federal Reserve in the 21st Century" -- an annual affair in which New York Fed economists and others explain "the mission and the dual mandate" that Congress has given to the central bank, and also explain — or try to explain — the Fed's role in the current economic downturn. Dr. Anderson writes that it was an interesting two days of lectures and discussion, and the food was very good. His problem was not and is not with the conference or the people involved; his problem is that they never will "get it," nor will they understand why the economy is where it is and what the Fed's role is in putting it there.
History
Does Islam Need a Reformation?
David Kelley
May 8, 2011
This analogy with the Protestant Reformation in 16th-century Europe is intended to suggest that a similar movement within Islam would counter the fundamentalism of Islamic extremists, strengthen religious freedom, and lead to something like the separation of church and state. One of the common refrains in commentary about the Islamic Middle East, especially since September 11, is that Islam needs a Reformation. Dr. David Kelley argues, however, that what Islam needs is an Enlightenment, not a Reformation.
Politics
On Constitutional Concerns
Ron Paul
May 8, 2011
Last week the media focused on President Obama's basic eligibility to be president while ignoring the unconstitutional manner in which he governs. A clear example, writes Rep. Ron Paul, is Obama's recent use of a signing statement to affect a line-item veto on a bill he signed into law as president. The recent continuing resolution to fund the federal government through September had an amendment that defunded four of his czar positions as a cost-cutting measure. These "czars" are administration appointees who exercise influence on policy matters, yet because they are classified as "advisors" and not cabinet officials, the President is able to avoid the Senate confirmation process. President Obama agreed to defund the czar positions before passage as part of some very tough negotiations, and then afterwards "clarified" his position with a signing statement saying that he would ignore that portion of the law.
"Genius is present in every age, but the men carrying it within them remain benumbed unless extraordinary events occur to heat up and melt the mass so that it flows forth."
~ Denis Diderot