I would like to evaluate whether or not Gold functions better than paper as a currency. This subject comes up, because of an engaging argument that I had last night about the U.S. Constitution and it’s purview of the monetary policy of the U.S. government. In particular, though the Constitution does not define what Money [...]
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Interesting lecture, put out by the Adam Smith Institute, about The Lessons of Public Choice Theory. It turns out that democracy is a less efficient system than the free market. For example, voters rationally remain ignorant because their input in the election is not correlated to their knowledge about the process and the candidates. When [...] “Inflation is always and everywhere a monetary phenomenon.” — Milton Friedman. First, we should observe the circumstances under which hyperinflation can occur. Hard Specie A government using a hard specie such as gold and silver coins, still tends, as a natural result of beaucracy, to spend more than its revenues. However, the laws of pysics [...] I sent the following letter to Mike Maloney, CEO of GoldSilver and WealthCycles. Let’s see if he answers back. Promotion of silver as a form of money. You and I both share a preference for the GOP candidate Ron Paul, who advocates a return to hard money. His ‘End the Fed’ campaign has successfully [...] I started reading The Innovative University: Changing the DNA of Higher Education from the Inside Out by Clayton Christensen and Henry Eyring. So far, it re-iterates some of the sentiments that I’ve seen before: Sustaining innovation of the university has left it out-of-touch with the market. Higher education institutions have long practiced piecewise expansion of [...] I read today an interesting article on Lew Rockwell’s site about one Robert Kahre. He had arranged to pay his employees in gold and silver coin. He arranged for them to all work as private contractors, and paid them absurdly low wages (the face value of the coin). Some fascinating ramifications of this arrangement: Each [...] I’ve been spending a lot of cog cycles processing ways to make money doing education. It’s apparently quite difficult. With statements like There is No Profit in Education, No Competitive Advantage to Better Learning. and posts about Why Education Startups Do Not Succeed, as well as a (conspiratorialist) video about the College Conspiracy. From these [...] I was in the dining hall, and the TV there had some talking heads babbling about the stock market. I couldn’t really make out what they were saying, but it set the stage in my mind for some other thoughts. I was informed recently that the High Frequency Traders, are really just a natural response [...] I’m not an Economist, but I thought that I’d share a link to a nice article about why we currently face an economic crisis. The Infinite Loan Machine. An examination of the effect of loan securitization on the fractional reserve banking system. Loan securitization has become a widely used method for consolidating collections of [...] This past week I finished my reading of Mandelbrot’s most recent book The (Mis)Behavior of Markets. I actually didn’t like it that much. I found the book to be especially light on details; for a mathematical empiricist Mandelbrot didn’t actually explain, in unambiguous terms, the patterns that he sees in market data. He did a [...] |
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