by Hans-Hermann Hoppe on November 18, 2011

[The following is the text of a speech first delivered at the Edelweiss Holdings Symposium held in Zurich, Switzerland, on September 17, 2011.]

Let me begin with a brief description of what a capitalist-entrepreneur does, and then explain how the job of the capitalist-entrepreneur is changed under statist conditions.
What the capitalist does is this: He saves (or borrows saved funds), hires labor, buys or rents capital goods and land, and he buys raw materials. Then he proceeds to produce his product or service, whatever it may be, and he hopes that he will make a profit.

by Doug French on November 4, 2011

The foreclosure crisis has crawled on for going on four years now with no end in sight. The S&P/Case-Shiller index for August fell 3.8 percent from a year ago. The index includes home prices for 20 US cities.
"Continued house price declines could lead to even more defaults, foreclosures and distress sales, undermining wealth, confidence and spending," William Dudley, president of the Federal Reserve Bank of New York said. "Breaking this vicious cycle is one of the most pressing issues facing policy makers."

by Frank Shostak

November 2, 2011

Last Thursday, October 27, European leaders secured an agreement from eurozone banks to take a 50 percent loss on the face value of their Greek debt. The leaders also set in place a plan to force banks to raise new capital to insulate them from potential sovereign-debt defaults.

The banks must meet 9 percent capital reserves by June 30, 2012. It is estimated banks' capital needs will stand at 106 billion euros. Eurozone policy makers have also agreed to expand the emergency bailout fund to $1.4 trillion from $610 billion — suggesting it could provide guarantees for around $1.4 trillion of bonds issued by countries such as Spain and Italy. But will this new plan set the platform for healthy economic growth in the eurozone?

http://www.youtube.com/watch?v=QcvjoWOwnn4

I'm sorry but I don't want to be an Emperor, that's not my business. I don't want to rule or conquer anyone. I should like to help everyone if possible, Jew, gentile, black man, white. We all want to help one another, human beings are like that. We all want to live by each other's happiness, not by each other's misery. We don't want to hate and despise one another. In this world there is room for everyone and the earth is rich and can provide for everyone.

The way of life can be free and beautiful. But we have lost the way.

The value of the Belarusian ruble dropped Oct. 20 by a third, worsening inflationary trends in an economy already experiencing severe financial issues. Increased populist spending, high global energy prices, decreased Russian resource subsidization and the recent EU/U.S. sanctions against Belarus have already weakened the nation's economy considerably. Rising inflation, rather than pro-Western protests, will therefore pose the most important challenge for Belarusian President Aleksandr Lukashenko to maintain his hold on power.

Seasonal greetings to you! Merry Christmas and Happy New 2010 Year! Another year is coming to a close. The year was an explosive mixture of many events, phenomena and emotions: economic crisis, downturns, uplifting human touches and dull continuous regularity. The global problems went along local issues. Winter made its strides deep into spring. Summer kissed skiing and occasionally skated amidst dirty snow drifts. Governments tore markets into pieces by its visible hands. Prices danced hectically. Free trade was caged and cornered by chauvinistic crowds and bureaucratic clans.

Dear friends,

Another year is coming to a close. It was turbulent, tempestuous and impetuous. Emotions filled out rooms, halls and streets. Reason timidly tried to swing a cat in. The Good continued waging its never ending war with the Evil. The beauty was often ruthlessly and shamelessly beaten by beasts. Freeloading prevailed and achievement was given credit too rare and far between.
Freedom was sacrificed for the sake of “sausage” by too many. Too few were ready to fight for liberty. Too many believed that liberty is for good, for granted and for free. Free lunches for few turned into misfortune to many. Lessons of history unlearnt.

Ignorance and impotence

Systemic transformations in the post-Soviet post-totalitarian area are over. Socialist as the system of full-fledged centralized decision making has been replaced by interventionism or the system with various degrees of state involvement in economic affairs. The system can also be called welfare state, market socialism or mixed economy. The ideology of the compromise between socialism and capitalism prevailed. The thirdway-ism took the place of Marxism. Central planning has been substituted by econometric modeling. Political economy of socialism was replaced by economics. Old labels died and new trendy brands in politics and economy have been successfully promoted. Sustainable development, corporate social responsibility, good governance, fair trade and “let’s make poverty history” and “let’s do something about global warming” became ideological pillars of new post-modern, post-industrial and post-totalitarian world. Ethics of redistribution remained strong. The concept of social justice was revised but it was state-centered and government-inspired. 

Jaroslav Romanchuk

Dear friends!

New Year and Christmas are on the threshold! Nice, spiritual and chocolate time! We have become one year smarter, more experienced and beautiful. Each person – in his own spheres. Each person – in her own way.

Long-term strategy for democracy building and its sustainability

Jaroslav Romanchuk,  President of Scientific Research Mises Center