DOLLAR: New Book on the Business Cycle and a Free Market in Money and Banking

Dr. Brian P. Simpson, author of Markets Don’t Fail! (Lexington Books, 2005) and an economist at National University in San Diego, CA, has written a new book on the business cycle and a free monetary and banking system.  The book shows how government interference—particularly in the monetary and banking system—causes the business cycle, including the recessions, depressions, and financial crises that are a part of it.  The book also shows how establishing a free market in money and banking can virtually eliminate the business cycle.This book is a major contribution to the monetary, banking, and business cycle literature.  It builds on the business cycle theory developed by Ludwig von Mises and Friedrich Hayek.  The two-volume book is published by Palgrave Macmillan and is titled Money, Banking, and the Business Cycle, with subtitles of Integrating Theory and Practice for volume one and Remedies and Alternative Theories for volume two.  Volume one was published in April.  Volume two is due out in July.Part one of volume one shows how manipulations of the supply of money and credit by the government are the primary cause of the cycle.  Part two applies the theory to over 100 years of U.S. history to illustrate the explanatory power of the theory.  The author uses extensive quantities of data to make his case, including data for interest rates, the rate of profit in the economy, the money supply, the velocity of money, industrial production, GDP/GNP, gross national revenue (a more comprehensive measure of spending and output than GDP/GNP), and more.  He shows how the theory explains the Great Depression, the Great Recession, the recession of the early 1980s, and all episodes of the cycle in the U.S. since 1900.  In addition, he goes back to 18th century France and the Mississippi Bubble to demonstrate the explanatory power of the theory.Part one of volume two critiques alternative theories of the cycle, including Keynes’s theories of depressions and fluctuations, Keynesian “sticky” price and wage theory, and real business cycle theory.  Part two shows what a free market in money and banking would look like, provides an outline to transition to a free market in money and banking, and gives a detailed explanation of why it would lead to greater stability in the monetary and banking system and raise the rate of economic progress in the economy.Here are links to the two volumes:Volume 1: http://us.macmillan.com/moneybankingandthebusinesscycle/BrianPSimpson Volume 2: http://us.macmillan.com/moneybankingandthebusinesscycle-1/BrianPSimpsonIt is also available at Amazon at a discounted price.Money, Banking, and the Business Cycle: Volume I: Integrating Theory and Practice: 1 Money, Banking, and the Business Cycle: Volume II: Remedies and Alternative TheoriesThe book is highly recommended for anyone interested in free-market ideas or monetary, banking, and business cycle theory.  Economics professors will find both volumes excellent for courses on "macroeconomics," money and banking, Austrian economics, or the business cycle.  Both volumes would also be great additions to the collections of university libraries and libraries of free-market institutions.

The Creative Lifestyle: Routines and Daily Rituals of Creators

Pulling data from Mason Currey's book Daily Rituals: How Artists Work, RJ Andrews at Info We Trust designed some epic charts of how some of history's most creative and influential figures organized their days.daily-ritualsDaily Rituals: Life-hacking tips from novelists, painters, and filmmakers.

Given how much time I've spent reading and thinking about artists' schedules and working habits, you might expect that I would have some insight into what makes for an ideal daily routine. Is there some combination of sleep, work, exercise, coffee, and focused head-scratching or brow-furrowing that is most likely to lead to creative breakthroughs? Or, at the very least, are there some basic guidelines that will stave off blocks and guarantee a minimum level of intellectual output?

Short answer: no, not really. The one lesson of the book is that there is no one way—the rituals and habits that helped Artist A create a masterpiece would never work for Artist B; and, actually, they might not even work for Artist A for very long.

One’s daily routine is a highly idiosyncratic collection of compromises, neuroses, and superstitions, built up through trial and error and subject to a variety of external conditions.

That said, there are certain behaviors that cropped up over and over again in my research. A large number of novelists and poets, for instance, wake up early in the morning and try to get some words on the page before other obligations kick in. Composers, I've found, almost invariably take a long daily walk. And if you suspect that caffeine is the real engine of a good deal of creative activity, well, you may be on to something.

 

Some thoughts on Black History Month

Black History Month: Celebrating Race-Based Achievement is Racism | Capitalism Magazine

Black History month is intended to counteract the historical bias against blacks. The Tulane University Black History Month Web site reads, “Obviously, a White History Month is not needed because the contributions of whites are already acknowledged by society. Black History Month is meant to remedy this inequity of representation.” According to Jacquelyn West-Ford, Drexel’s senior associate dean of students, “Black History Month is simply a time to bring attention to the achievements that black Americans have made to education and society.”But Black History Month is not meant to remedy inequity of recognition as such — merely inequity of recognition for those who are black. The holiday discriminates against other unrecognized achievers — as if black achievers were the only ones who have been treated unfairly by history. If remedying inequity of recognition were the true purpose of the holiday, it would be called “Month of Unrecognized Achievers.” It would celebrate people like Nikola Tesla, the father of modern electricity, and not just people like Martin Luther King Jr., whose achievements are already more widely recognized than Tesla’s.

The Ten Commandments Rationally Examined

by Edward Cline

One of the most infuriating things about conservatives who claim that the U.S. was founded on Biblical morality and the Ten Commandments is that, like Muslims, their minds are closed to any arguments to the contrary. They slam shut so hard you can feel the draft.  So, let’s examine the Ten Commandments and see if any one of them has anything to do with our vanishing freedoms. I have used the Commandments as published by the ultra religious conservative group, Politichicks, in Lydia Goodman’s December 18th column, “How Many Laws Does One Country Need? God Says Ten.”  Their exact wording is not as I remember them, my having been exposed to them in the Catholic Church in the 1950′s, but that is a minor point.The 10 Commandments1 –  And God spoke all these words, saying: “I am the Lord your God, who brought you out of the land of Egypt, out of the house of bondage. You shall have no other gods before me.No problem. There are no other gods before him. Not even God. There’s no queue outside my door.So,  Moses parted the Red Sea and talked to a burning bush, and suddenly hefted a pair of very heavy stone tablets on which were chiseled the Ten Commandments and which he had to lug back down the mountain. These are apocryphal fairy tales akin to Mohammad riding a winged horse to have a personal huddle with Allah and having an angel whisper into his ear Allah’s own fifty dozen commandments.  There really isn’t any reason why any rational person should take this Commandment literally. Especially if he doesn’t subscribe to the notion of the existence of a supernatural entity that knows all and can do all, and knew what you would do billions of years before you were even born, but still imbues you with the “freedom” of choice. Which doctrine should believers believe in: Predestination, or volition? I’ve never heard an argument that made any sense, because, among their other faults, fast-talking preachers and priests all try to reconcile man the hapless pawn of God, with man the being of volitional consciousness.But, theologians and believers will retort: God is above human understanding, beyond reason, except in his heart, and in his faith. To know God, one must suspend one’s mind, because an inquiring mind is an obstacle to belief. And that retort is largely a legacy of Prussian philosopher Immanuel Kant, who wrote reams and reams of paragraphs in an attempt to save religion from the Enlightenment. (Kant wasn’t the only one, just the best known.) Trying to defend religion from reason, he invented a “pure” reason that would explain and justify the unreasonableness of religion, or why it was so reason-proof and rebuffed the evidence of our senses in his Critique of Pure Reason, by which we have an a priori grasp of God that has nothing to do with mere, mundane reason. Here it is from the horse’s mouth:

HUMAN reason has this peculiar fate that in one species of its knowledge it is burdened by questions which, as prescribed by the very nature of reason itself, it is not able to ignore, but which, as transcending all its powers, it is also not able to answer.That’s just in Kant’s 1781 preface. It more or less encapsulates his theme and subject. He could be brief when he wanted to. Read the balance at your own risk, but be sure to have a bottle of Tylenol handy. His oft-interminable sentences are sure to give you a throbbing headache.2-  You shall not make for yourself any carved image, or any likeness of anything that is in heaven above, or that is in the earth beneath, or that is in the water under the earth; you shall not bow down to them nor serve them. For I, the Lord your God, am a jealous God, visiting the iniquity of the fathers on the children to the third and fourth generations of those who hate me, but showing mercy to thousands, to those who love Me and keep My commandments.First off, this sounds too much like the Islamic prohibition on representations of Mohammad. However, artists of the Judeo-Christian creeds have played fast and loose with representations of God. Witness Michelangelo’s rendering of God. It’s an old fellow with an untrimmed beard and garbed in a nightgown.Secondly, I’m guessing that God exempted himself from his own Commandments, because jealousy is a venial sin, a minor misdemeanor, and forgivable. Very big of him. “Do as I say, not as I do”? This Commandment is particularly extortionate, because reads like a Mafia curse. His iniquity will be visited on the guilty, and on the guilty’s descendents. The notion fits right in with the doctrine of Original Sin, in which one is burdened with sin before one is even born. Adam originated the sin, and we’re his heirs. Spiffing.When I was a young, ignorant kid, I thought that a sin manifested itself as a black spot on one’s belly. I was continually looking for one, or what resembled an ink stain, because I was constantly sinning. One never appeared. I have a mole there, but it’s brown. It’s just a collection of chemicals.Now, was God “born” old, or did he “age”? Has anyone ever attempted an image of God as a Young Man? But, how could he “age” before he invented time? According to the Big Bang theory, it was just him and that dimensionless ball of glop that he caused to explode. Was that the beginning of eternity, or the end of infinity? Go figure. Picture a consciousness, form and gender unknown – or was there a gender? – floating in a void in immeasurable time, with only the ball of glop for company. It’s a prospect and a premise that puts all the recent CGI-rich science fiction films to shame.And whoever said God was male? The feminists have had problems with that presumption. They have been busy subjecting the Bible to Critical Theory analysis, trying either to find a semantic or linguistic loophole in Genesis which claims that God made man in his own image and likeness, or to deconstruct it to shreds in a revolt against patriarchic sexism and producing some very vitriolic screeds.Finally, to return to Michelangelo and the Sistine Chapel, what has God got against art, that is, against making likenesses of things on earth and in the sea? Some of the greatest art was created in his glory. Surely he couldn’t object to that? (Off-hand remarks here about Michelangelo, or “Big Mike,” are not meant to be deprecatory of his greatness as an artist.)3 - You shall not take the name of the Lord your God in vain, for the Lord will not hold him guiltless who takes His name in vain.Well, why not? It’s just about the only time an atheist or even a steadfast Christian will remember God, by taking his name in vain, or in anger, or in frustration, and curse like a sailor. Further, unlike God, I wouldn’t be offended if people began taking my name in vain. If anything, I’d be flattered. Please, take my name in vain, as often as you wish.4 - Remember the Sabbath day, to keep it holy.I remember the Sabbath only because my bank and favorite restaurants are closed.5 - Honor your father and your mother, that your days may be long upon the land which the Lord your God is giving you.I can’t honor my parents. They always voted the straight Democratic ticket, and for Obama, twice. Further, it’s a confusingly worded Commandment. What exactly had God given me? Democratic parents, or the land and the long days? Will honoring my parents add years to my life?6 – You shall not murder.Well, why not? Give me a reason. Is it because another person’s life isn’t another’s to take – that is, the person owns his own life – or is it because it’s assumed he’s God’s property, and taking his life would amount to really serious larceny and put the kibosh on God’s own plans for the person?  God notoriously does not tolerate interference with his divine plans. He can be very, very wrathful.7 – You shall not commit adultery.Again, why not? If your spouse has turned into a prune-faced anchorite utterly hostile to divorce and about as romantically exciting as Norman Bates’ mummified mother or Lon Chaney’s Phantom of the Opera, where else is there to turn?8 – You shall not steal.And not steal what? The limelight? The scene? The ball? Someone else’s real property? Commit plagiarism? Please, someone give me a reason other than God’s officious, persnickety say-so. This and the other Commandments come out of literal nowhere, from the void of faith and belief. Has the Federal government heard of this Commandment?9 -You shall not bear false witness against your neighbor.I guess this is God’s dictat against lying. But why limit it to neighbors? How about unneighborly tax collectors, criminals, and feminists? I say bear as much false witness against them as the traffic will carry. Has Barack Obama heard of this Commandment? There are forms of this Commandment in the Koran, but maybe he just skipped over them in Indonesia.10 – You shall not covet your neighbor’s house; you shall not covet your neighbor’s wife, nor his manservant, nor his maidservant, nor his ox, nor his donkey, nor anything that is your neighbor’s. Envy doesn’t necessarily lead to covetousness, or even to theft or illegal appropriation or pilferage or shoplifting. Some dyed-in-the-wool Christians argue that this particular Commandment is the sole foundation of capitalism. No wonder Karl Marx was dead set against it. He was wrong, too. The foundations of capitalism – indeed, of freedom of speech and of thought and of property – can hardly be the arbitrary assertion of a ghost or even of a genuine mortal.Of course, Christians won’t give up trying to wed freedom and religion. A case in point is a column, “Ayn Rand and Jesus: Do they teach opposing viewpoints about economy?” on BeliefNet, in which, incredibly, the writer asserts that there can be a moral “overlap between an atheist and a Christian.”

Among other things, there can be overlap between an atheist and a Christ follower in discovering truth.  Jesus would disagree with Ayn Rand that there is any morality outside of God. He might tell her that she hasn’t traced her absolutes back far enough to an objective reality.I would like to have seen Jesus say that to Rand’s face and leave the room in one piece. On the other hand, she was such a formidable and persuasive debater that perhaps Jesus might have wound up an atheist.Religion, she noted, was (and remains) a primitive form of philosophy. In her March 1964 Playboy interview, she said:

Faith, as such, is extremely detrimental to human life: it is the negation of reason. But you must remember that religion is an early form of philosophy, that the first attempts to explain the universe, to give a coherent frame of reference to man’s life and a code of moral values, were made by religion, before men graduated or developed enough to have philosophy. And, as philosophies, some religions have very valuable moral points. They may have a good influence or proper principles to inculcate, but in a very contradictory context and, on a very—how should I say it?—dangerous or malevolent base: on the ground of faith.By way of illustration, religion can be compared with the stick men children first learn to draw; a fully rational philosophy, absent any form of mysticism and reliance on unsupportable assertions, should then lead them to create the likes of Michelangelo’s “David.” But modern philosophy has so failed men in their search for a “coherent frame of reference to man’s life and a code of moral values,” that they are doubling back to the primitive form of it because it seems to make more sense than, say, Existentialism or Nihilism or Marxism. One can’t really blame them. Look at what Existentialism has produced in the way of a representation of man: there’s Rodin’s “Walking Man,” and Giacometti’s. Not much of a choice. One can sympathize with them, but not ally oneself with them, except on an ad hoc basis.Faith in the existence of the supernatural, and even in the “extra-rational,” has been a stumbling block all throughout man’s history. And it has proven dangerous. Faith in a supernatural giver of laws has become faith in a statist and totalitarian system that promises paradise on earth. But it can only attempt to deliver that paradise by employing faith’s necessary partner: force. And, as Rand so well put it:

I have said that faith and force are corollaries, and that mysticism will always lead to the rule of brutality. The cause of it is contained in the very nature of mysticism. Reason is the only objective means of communication and of understanding among men; when men deal with one another by means of reason, reality is their objective standard and frame of reference. But when men claim to possess supernatural means of knowledge, no persuasion, communication or understanding are possible….And more: no man or mystical elite can hold a whole society subjugated to their arbitrary assertions, edicts and whims, without the use of force. Anyone who resorts to the formula: “It’s so, because I say so,” will have to reach for a gun, sooner or later.

No, there is no “overlapping” possible between reason and faith. Any attempt at it will result in the triumph of faith, as exemplified in the porous, virtually tongue-in-cheek rationalizations one can read on BeliefNet, which is no defense of freedom at all. Faith can give one the illusory comfort of a comprehensible universe – or, more often than not, lead to the horrors in history and those taking place in our own time.

Three Ways Climate Scientologists Abuse Science

Writes Alex Epstein at Forbes:

“Science” is perhaps the most abused word in the English language.The word used to name the method of Galileo, Newton, and Einstein has also been used to rationalize some of the most destructive political policies in human history, such as socialism and population control. The Nazis invoked the once-renowned “science” of eugenics to justify a Holocaust of “scientifically inferior” races.

How do we protect ourselves against such abuses of science? By knowing the one key difference between real scientists and science abusers. Science abusers treat science as an infallible authority to be blindly obeyed by the public. Real scientists treat science as a method to be carefully explained to the public.By this standard, today’s vaunted “climate science consensus”—that it’s been scientifically proven that we need to dismantle the fossil fuel industry, the economic engine of the world—is more Scientology than science.Here are three ways the Climate Scientologists abuse science.

1.They use manipulative languageIf you are ever asked the incoherent question “Do you deny climate change?” you have found yourself a Climate Scientologist.No one denies “climate change.” “Climate change” is a constant. The “climate,” which is an averaging of weather over long timespan, is an inherently changing phenomenon. There’s no “climate non-change.”Don’t tell me “Oh, we all know what we mean by climate change”–because I don’t, and neither do you.“Climate change” is a manipulative, rubber term used to mean anything from “the climate changes” (which everyone agrees with) to “we impact the climate at least a tiny amount” (which everyone agrees with) to “we impact the climate for the better” (yes, that’s possible) to “we are making the climate much more dangerous” (which much fewer people agree with) to “we are making the climate much more dangerous and the only response is to stop using fossil fuels but also incoherently oppose nuclear power and hydroelectric power while advocating the worst-performing energy technologies, solar and wind.”Climate Scientologists are usually advocates of the last, bizarre position. Since they can’t argue for that view honestly and directly, they dishonestly name their view “climate change.” That’s the equivalent of a eugenics advocate calling his view “evolution.” Which is, in fact, exactly what eugenics advocates did. And just as we needed more thinkers back then, so we need more Climate Thinkers today.

Read the rest of The Church Of Climate Scientology: How Climate Science Became A Religion at Forbes.

The Real War on Black Men…By Other Black Men

Writes Glenn Garvin at MiamiHerald.com
There is no war on black men, at least not by white men. Last year, the Scripps-Howard News Service studied half a million homicide reports and found that killings of black victims by white attackers have actually dropped over the past 30 years, from 4,745 during the 1980s to 4,380 during the first decade of the 2000s. There were nearly twice as many white victims killed by black assailants: 8,503 in the 1980s, and 8,530 in the 2000s. [Zimmerman Trial: Trayvon Martin was not Emmett Till]
According to findings from the Bureau of Justice Statistics’ National CrimeVictimization Survey (NCVS) and the Federal Bureau ofInvestigation’s (FBI) Uniform Crime Reporting Program (UCR), Supplementary Homicide Reports:
Blacks were victims of an estimated 805,000 nonfatalviolent crimes and of about 8,000 homicides in 2005. While blacks accounted for 13% of the U.S. population in 2005, they were victims in 15% of all nonfatal violent crimes and nearly half of all homicides. [...]
In 2005 nearly half of all homicide victims were black Blacks accounted for 49% of all homicide victims in 2005, according to the FBI's UCR.Black males accounted for about 52% (or 6,800) of the nearly 13,000 male homicide victims in 2005. Black females made up 35% (or 1,200) of the nearly 3,500 female homicide victims.[...] In 2005 most homicides involving one victim and one offender were intraracial. About 93% of black homicide victims and 85% of white victims in single victim and single offender homicides were murdered by someone of their race. [Black Victims of Violent Crime]
You got that? In the United States, 93% of the black people who were murdered in 2005 were murdered by other people in their beloved "Black community."Perhaps this is what prompted Jesse Jackson to say:
"There is nothing more painful to me at this stage in my life than to walk down the street and hear footsteps and start thinking about robbery. Then look around and see somebody white and feel relieved.... After all we have been through. Just to think we can't walk down our own streets, how humiliating." [Remarks at a meeting of Operation PUSH in Chicago (27 November 1993). Quoted in "Crime: New Frontier - Jesse Jackson Calls It Top Civil-Rights Issue" by Mary A. Johnson, 29 November 1993, Chicago Sun-Times (ellipsis in original).]
So much for "racial profiling." From an editorial in the Baltimore Sun:
Jesse Jackson has been taking an unusual amount of heat from his fellow African-Americans recently because he has identified black-on-black crime as a major problem in poor communities. The reaction reminds us of the incredulity that greeted the little boy's observations concerning the emperor's new clothes. Isn't it obvious that blacks are the primary victims of crime in poor neighborhoods, and that the brunt of the suffering inflicted by black criminals is borne by other blacks?In a society with a less troubled racial history than ours, these would be self-evident statements. Because criminality has so often been used in the past to paint all blacks in a negative light, however, frank discussion of the problem has always been an extremely touchy subject. Mr. Jackson has been accused of fueling racist stereotypes.
Yet one of Mr. Jackson's roles is that of iconoclast. And [Jackson] has performed valuable service by jettisoning the taboo against black leaders talking about black-on-black crime. He knows that the "root causes" of much crime are to be found in poverty, broken families, hopelessness. And his audiences, who are overwhelmingly black, know he is not talking about them when he speaks of the "bad black brothers" who deal drugs, rob and kill. They just want help getting criminals off their streets.Critics have lambasted Mr. Jackson's claim that black-on-black violence is the nation's "number one civil rights problem." They point out that black criminals don't target their victims because of their color but because they are vulnerable and close at hand. So how can such crimes possibly be considered a "civil rights" matter? Yet when services -- including police protection -- in poor black neighborhoods are stretched to the breaking point, when good schools, businesses and jobs are virtually non-existent, when all the elements that make a community viable are lacking, surely that is a human rights issue.
Apparently it is OK to rob, rape and murder someone -- just so long as you don't do it because of their skin color? This is context-dropping "compartmentalization" on steroids. This the result of so-called "civil rights" advocates who deny individual rights.
Ironically, many of Mr. Jackson's detractors are the same people who subscribe to various theories of a massive white conspiracy to keep blacks down. Perhaps they fear his ideas may deprive them of a convenient scapegoat. Mr. Jackson, however, speaks to the concerns of all decent people, black and white, when he suggests the same moral force that sustained the civil rights movement of the 1960s must now be applied to task of ridding poor communities of lawlessness and terror. If that seems like a revolutionary message in the 1990s, it is only because it has the ring of truth. [Jesse Jackson On Black Crime | Jesse Jackson on crime - Baltimore Sun]
The above was written in 1993. My how have things changed today under the Presidential "leadership" of the great divider.

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