LMR – June 2019

Say what you will about dictatorship, but at least its victims don’t have to suffer through political campaigns. As the Democrats keep one-upping each other with promises on the minimum wage, health insurance, student tuition, the “Green New Deal,” and even a federally guaranteed “basic income,” Americans are realizing with growing astonishment that Trump may very well be re-elected— notwithstanding a full-court press assuring the public that he was personally installed in office by Vladimir Putin.

Read More »

LMR – May 2019

In a twenty-first century world of “fractional reserve banking,” long-term zero, and near zero interest rates, and now even the idea of “Modern Monetary Theory (MMT),” the natural market rate of interest has all but disappeared. But the wisdom of Frédéric Bastiat pierces through our present rate of interest debates and acts as a type of compass to help reorient us back to what rate of interest is economically sound and moral. Although the subtleties of the presentation would benefit from the later development of subjective value theory (from the hands of Carl Menger in 1871), nonetheless it is impressive how intuitively and passionately the classical economist Bastiat describes and defends the market economy.

Read More »

LMR – April 2019

Friedrich Hayek, in much the same way as Mises and every great economist going back to Adam Smith and beyond, had to defend the principles of the capitalist system to his own generation anew. Is that because once a free society is achieved we take it for granted and we no longer value it? Must we sink into totalitarian darkness before we can realize what we have lost?
Hayek concluded that this might actually be the case, even though he wished that it weren’t true. What he could not ignore was the fact that so long as there were people who were continually attracted to socialist ideals the socialist trend would persist.

Read More »

LMR – March 2019

As we were working on the March issue of the LMR, we learned that our friend, co-author, and hero Nelson Nash died. He had been in poor health but we were shocked by the suddenness with which he left us. We decided to devote our respective articles this issue to the legacy of Nelson, and we also have reprinted our past LMR interviews of him. However, Nelson would have wanted us to forge ahead and continue with the battle of ideas. “Life goes on,” as he would remind us whenever we began to fret too heavily about the fate of the U.S. dollar or the loss of financial privacy. We hope this special issue of the LMR offers the proper blend of respect for Nelson while continuing our mission of Building the 10%.

Read More »

LMR – February 2018

Why in the world do people consent to their being enslaved by the State? This was the question that Étienne de La Boétie sought to uncover and expose in this nearly lost and forgotten document of the 16th century. While many great philosophical thinkers of the past and present have attempted to plumb the depths of tyranny Boétie delves into the dark nature of State rule itself. And although much can be said about his insight and style of writing, it is the power of his own words that does the convincing. His conclusion was that people choose to enslave themselves.

Read More »

LMR – January 2019

There is one aspect of our strategy that we believe is not fully understood, or has still not been fully grasped by those helping to build the 10%. It merits close scrutiny and may explain our lack of impetus in selling our ideas with conviction. Without the benefits of this unique insight, the ability to visualize the tipping
point can seem difficult and far-fetched. With it, the embers burn brighter and converting others to our beliefs becomes more feasible.

Read More »

LMR – December 2018

We thought long and hard about what we would share with you that you would remember long past this holiday season that encompasses the days of Christmas that lead up to the New Year. We searched deeply for a gift of a spiritual nature that would help you and us overcome the growing economic tensions, social hostilities and political uncertainties of our world that at times tend to overpower us with a sense of dread. We decided that this one refrain that we read repeatedly throughout Holy Scripture — “Do not be afraid,” is the most appropriate one.

Read More »

LMR – November 2018

What Dr. Carson is making clear is that “by our practice, we say that we believe in free enterprise—except… Except for public utilities. Except for the railroads. Except for mail delivery. Except for medical services. Except for housing, financing, and real estate transactions. Except for large corporations. Except for education. Except for interest rates. Except for farmers. Except for small business. Except for industrial workers. In short, a case could be made that Americans believe in free enterprise except in whatever activities they happen to be considering.”

Read More »

LMR – October 2018

People are uncomfortable with change. The primary reason for this discomfort is that it forces an adjustment to the modifications of the new environment. It particularly irritates the lethargic types who also have to adapt to new ways of thinking. Thinking, especially sound sober deliberation, can be exhausting. Change will also harm special interest groups and endangers established forms of production and consumption. The way things are now is preferred.

Read More »

LMR – September 2018

It is very important to recognize that governments that move in the direction of being the principal benefactor of a society’s wellbeing, health, comfort, security, safety, protection, prosperity, success and a lifetime of good fortune is a government that favors socialism. This is not always easy to see because all these things sound so wonderful, but it’s an illusion. This is one reason why as Austrians we must always be on the look out for the “unseen” consequences of providing such benefits to a society.

Read More »