LMR – August 2013

Not every organization of coercion is called a State. however, the State is that institution which claims a monopoly to decide on the legitimate use of force, and which derives its funding in a nonvoluntary process. (If taxes were truly voluntary, we would have a club, not a State.) Because they perceive its tremendous power, many people align themselves with the State.

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LMR – July 2013

If there is one thing most sound thinking Americans have learned about our government it is that it has proven to do only three things well— wage war, inflate the currency, and tax us unmercifully. At everything else it is a dismal failure.

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LMR – June 2013

What do the Austrians mean by the aggressive economic nature and consequences of government intervention? It seems unthinkable that we could explain this for all to understand in such few paragraphs since there are literally volumes written on this subject. But let us try since it affects each and every one of us.

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LMR – May 2013

At one time or another most of us fancy the silly idea of being able to foretell the future. “If I only knew what happens next…” we often find ourselves saying. Unfortunately, one of the fundamental conditions of man’s existence is the impossibility of this wish. We knew this, of course, but still wished it were so. Man cannot predict the future. He can only speculate and at most attain a sense of the probability of future outcomes of his actions.

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LMR – April 2013

Fully understanding society’s problem, while absolutely necessary, is not enough to bring about the solution. Education alone will not do it. Action must go farther than that. But should that action be implemented from the top down to society, or beginning with the individual, spread out and up? In this question and its answer lie the supreme differences between the thinking of the Keynesian and that of the Austrian School — central planning vs. a free market economy.

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LMR – March 2013

We live in a world dominated by Keynesian economics. Since 1936 when John Maynard Keynes wrote his famous book, The General Theory of Employment, Interest and Money, most of our universities here in the United States, from Harvard to the smallest community college, have become vested in this way of thinking. Consequently, our nation’s government now fully endorses and mandates this way of governing our monetary system.

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LMR – February 2013

“All things are subject to the law of cause and effect.” This is the very first sentence of the book Principles of Economics, written by the Founder of Austrian Economics, Carl Menger. The reputation of the School and its fundamental ideas belong fully and wholly to this man. The profundity of that statement seems to make clear that the law of causality gets to the “why?” of all things.

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LMR – January 2013

Increasingly modern governments are returning to treating the masses of the world as though they were property, harking back to the olden days prior to the great classical liberal revolutionary movement of the seventeenth and eighteenth centuries. Before these centuries the history of man, except for a few exceptions, was an account of despotism where the ruling class forced the population to live at bare sustenance levels, empty of hope and assurance.

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LMR – December 2012

Here we are once again, reflecting on the year that is leaving us and with great anticipation wondering what the New Year will bring. So much has transpired and much has been achieved. As always we are amazed at how quickly the time has gone. We carry with us the lessons of all these past experiences to take us forward, secure in the knowledge that no matter what challenges will come our way we will, nevertheless, accomplish our goals.

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LMR – November 2012

“The customer is always right” is one of those all too familiar household phrases that is ingrained in the minds of most Americans. The holiday shopping season is one of those rare occasions of the year when we tend to remember it. What we seldom consider about this slogan is that it is the fundamental law of the market.

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