Showing posts with label Mises. Show all posts
Showing posts with label Mises. Show all posts

Saturday, August 9, 2014

Democracy, Hypocrisy



Saddam Hussein greeting U.S. special envoy Donald Rumsfeld

(Baghdad, 1983) 

Nearly a quarter century ago Murray Rothbard wrote* "Why the Intervention in Arabia?".  In it he ponders the contradiction of the U.S. supporting dictators in Kuwait and Saudi Arabia while Washington was claiming to be spreading "democracy":
"Saddam Hussein is a very bad man, the "Butcher of Baghdad." Absolutely, but he was just as much a butcher only the other day when he was our gallant ally against the terrible threat posed to the Gulf by the fanatical Shiites of Iran." 

...



U.S. Senator John Kerry dining with Assad

(Damascus, 2009 image The Telegraph)

Rothbard continues:
"The fanatical Shiites are still there, by the way, but they--as well as the Dictator of Syria, Hafez Assad, the Butcher of Hama--seem to have been magically transformed into our gallant allies against Saddam Hussein."

Fewer than three years after Kerry and Assad were dining together in Damascus the U.S. began allying with Syria's Muslim Brotherhood to topple Assad and his government.

According to the New York Times funding for Assad's opposition is coming from Turkey, Qatar, U.S. State Department, the C.I.A. and Saudi Arabia.

The victims of regime change in Iraq would ask if this policy of spreading "democracy" is underpinned by hypocrisy?

*Rothbard's article is published at Mises.org



Saturday, June 14, 2014

Why is Champagne Expensive?

Robert Murphy explains Carl Menger's contribution to market price theory in this video.





For more check out Robert's great Free Advice blog.


Monday, May 26, 2014

Is Deflation the Natural Result of Progress?

Jim Grant giving the Henry Hazlitt Memorial Lecture at the Mises Institute.  Here Jim is talking about how technological progress leads to deflation...




The full lecture can be seen here.

Monday, March 31, 2014

Billions Squandered at the Hoover Dam


Doug French at the Mises Institute explains why the Hoover Dam may be the "biggest malinvestment in history".

A few highlights from the article:

  • Over 100 workers died on the job
  • The construction costs in today's dollars were over $700 million
  • 16,000 people worked on the dam

Today, the southwest U.S. including southern California has little to show for these investments save for a water-shortage, an unsustainable farming economy and a huge tax bill to bailout the dream of a few long-dead politicians.

Just imagine what all of those resources expended in the free market during the 1930's could have provided people in need of food, shelter, clothing, electricity and transportation.