"An economic system is a tool for creating wealth. A political system is a tool for securing justice. When a society uses its economic system to secure justice or its political system to create wealth, it attains neither wealth nor justice."
- Antony Davis
Playground Principles and Liberty
by Jason Riddle
Remember back to your days as a young child on the playground. You were taught to play nice with the other kids – don’t hit, don’t take Billy’s toy without his permission, don’t lie, share with your friends. The lessons were simple. As adults it seems that things have gotten much more complicated. In many ways this may be true. Yet, when it comes to the ground rules for peaceful, productive interactions with others, I’m not sure the fundamentals have changed.
Perhaps at times we consciously or unconsciously ignore our childhood teachings. Most adults understand that stealing is wrong, but many still believe that it is necessary to...
"The atomic bomb was dropped on Hiroshima on August 6, 1945 and on Nagasaki three days later on August 9th. Two hundred thousand persons were killed in the attacks and through radiation poisoning; the vast majority were civilians, including several thousand Korean workers. Twelve U.S. Navy fliers incarcerated in a Hiroshima jail were also among the dead." Historian, Ralph Raico, provides perspective. Read More...
In a related article, historian John Denson counters a few common myths about the justifications for the bombings in this article: The Hiroshima Lie
On August 2nd, 2012, Dr. Richard Ebeling presented testimony to the Subcommittee on Domestic Monetary Policy and Technology --- Dr. Ebeling's testimony is rich with monetary history and sound arguments against central banking. He concludes by outlining the "steps that might be undertaken to move the American economy in the direction of establishing a regime of monetary freedom". Read More...
“2Q earnings growth has been negative, with profits down 1.6% excluding Financials. This marks the first quarter of year-on-year profit declines since 2009. Moreover, while EPS surprises have been positive but revenue surprises have been negative. Following 2Q announcements, companies have issued weak guidance, resulting in increasingly rapid downward revisions to analyst estimates. At present, consensus expectations are for earnings to decline by 1.5% in 3Q. This implies further deterioration in margins.”
Excuse our progress. We will roll out the new podcast next week.
Video of the Week
What is Learn Liberty? Click on the video below to watch this brief video on YouTube. LearnLiberty is a wonderful resource for learning about the ideas of a free society.
Website of the Week
The Coalition to Reduce Spendingbelieves that out-of-control government spending is the most pressing issue of our day. The Coalition to Reduce Spending is dedicated to advocating for reducing federal spending and balancing the budget.
"Our country’s escalating national debt is the challenge of our generation, and reducing spending is necessary to address this problem. There is a clear need for a national organization to advocate exclusively for reducing federal spending to balance the budget. We founded the Coalition to put people clearly on the record, hold them accountable, and stand up for our nation’s future. We think every American should know where all candidates stand on this defining issue."(Visit ReduceSpending.org)
This Week's Reading Recommendation
Economics in One Lesson – Henry Hazlitt (1946) - Hazlitt's lesson is simple: “The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.“ He then applies the lesson to 23 key issues to expose the fallacies of poor economic reasoning. Regardless less of one's understanding of economics, everyone will be able to appreciate and enjoy this book.(Read More)
Meme of the Week
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