January 27-28, 2012

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Abstract Orderism Fractal XLI
G. Stolyarov II

January 27, 2012

This fractal by Mr. Stolyarov is comprised of tumultuous swirls on the outside, and intricate patterns on the inside.

Abstract Orderism Fractal XLII
G. Stolyarov II

January 27, 2012

This star-like fractal has a soft, feathery texture with some subtle but interesting patterns throughout the surface.

Abstract Orderism Fractal XLIII - Fractal Snowflake-Gear
G. Stolyarov II

January 27, 2012

This fractal is a cross between a gear and a snowflake. It conveys an impression of rotation.

Abstract Orderism Fractal XLIV - Fractal Roman Wreath
G. Stolyarov II

January 27, 2012

This fractal resembles an ornate, bejeweled wreath. The Ancient Romans would have appreciated the power of fractal art!

How Deflationary Forces Will Be Turned into Inflation
Thorsten Polleit

January 28, 2012

The ongoing financial and economic crisis has not only stoked fears that it will end in inflation — as central banks will print up ever-greater amounts of money — but it has also given rise to a diametrically opposed concern: namely, that of deflation. But Professor Thorsten Polleit writes that in today's fiat-money regime — which contrasts with the gold-exchange-standard that was in place in many countries prior to the Great Depression — the possibility of deflation appears fairly small indeed.

The Keynesian Cure for Hunger: Eat More
Richard Fulmer

January 28, 2012

Sylvia Nasar, author of New York Times bestseller, A Beautiful Mind, has a new book: Grand Pursuit: The Story of Economic Genius, which reviews the lives and ideas of a dozen economists from Marx to Keynes and Hayek to India’s Amartya Sen. Unfortunately, writes Mr. Fulmer, some of Ms. Nasar's explanations for the rise of economic prosperity are typically Keynesian. What Keynesians do not understand is that if a man is hired to dig holes and then fill them back up, he is fully employed but he produces nothing of value; effective demand is not increased by his efforts.

The Liberation of the Demons (1947)
Ludwig von Mises

January 28, 2012

This masterful essay is an excerpt from Ludwig von Mises's 1947 book, Planned Chaos. In it, Professor Mises writes that the history of mankind is the history of ideas. For it is ideas, theories and doctrines that guide human action, determine the ultimate ends men aim at, and the choice of the means employed for the attainment of these ends. The sensational events which stir the emotions and catch the interest of superficial observers are merely the consummation of ideological changes. There are no such things as abrupt sweeping transformations of human affairs. What is called, in rather misleading terms, a "turning point in history" is the coming on the scene of forces which were already for a long time at work behind the scene. New ideologies, which had already long since superseded the old ones, throw off their last veil and even the dullest people become aware of the changes which they did not notice before. In this sense Lenin's seizure of power in October 1917 was certainly a turning point. But its meaning was very different from that which the communists attribute to it.

Literary Analysis
Henry Hazlitt's Time Will Run Back: A Tale of the Reinvention of Capitalism
Edward W. Younkins

January 28, 2012

Henry Hazlitt’s novel, Time will Run Back, was originally published in 1951 as The Great Idea. It teaches that if capitalism did not exist, then it would be necessary to invent it. It makes the case that the discovery of capitalism is one of the greatest triumphs of the human mind. In his nonfiction works Hazlitt is a master with respect to making economics understandable (e.g., Economics in One Lesson). In Time will Run Back he skillfully uses fiction to illustrate his teachings on economics. He makes his points although the book was not written as an economic treatise. The book has a good story line to keep the readers interested. Dr. Edward Younkins offers his analysis of this engaging novel.

EPA Abuses
Ron Paul

January 28, 2012

In early January the Supreme Court heard arguments in Sackett v. EPA, a case of blatant federal agency overreach and abuse of private property rights.  Without any proof or reason, and no chance for appeal, the Environmental Protection Agency determined that a small single home lot was a “protected wetland.” The owners, Mike and Chantell Sackett, were ordered to halt construction already underway, to remove all of the work already done, and plant trees and shrubs consistent with a wetlands environment.  After making these costly changes, the Sackets then would have to wait several years for the EPA to decide if they would be allowed the use of their own property.  Refusal to comply with these outrageous and arbitrary commandments would result in daily fines greater than the value of the property! This, writes Ron Paul, is just one of many unconstitutional abuses of power by the Environmental Protection Agency.

The Problem With Privatization
Steven Horwitz

January 28, 2012

Classical liberals commonly favor “privatization” of many government activities.  Their case, of course, is that the private sector would provide goods and services at lower cost and of higher quality than government can.  Since classical liberals are right about this, why does Steven Horwitz think there’s a problem with privatization? Dr. Horwitz writes that, instead of calling for the “privatization” of government services, classical liberals should be calling for “de-monopolization.”

 "Racism is simply an ugly form of collectivism, the mindset that views humans strictly as members of groups rather than individuals." 
~ Ron Paul