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My Two-Bit Political Awakening

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Samuel Johnson may have been wrong when he declared, “There are few ways in which a man can be more innocently employed than in getting money.” But for young kids, collecting coins is a less pernicious pastime than becoming a pyromaniac or Tik-Tok star. My own experience collecting, buying, and selling coins vaccinated me against trusting politicians long before I grew my first scruffy beard. The thrill of coin collecting Handling old coins was like shaking hands with the pioneers who built this country. I wondered if the dented 1853 quarter I purchased was ever involved in Huckleberry Finn–type adventures when “two bits” bought a zesty time. My grandfather gave me a battered copper two-cent piece from 1864, the same year that Union General Phil Sheridan burned down the Shenandoah Valley, where I was raised. Some of the coins I collected might now be banned as hate symbols, such as Buffalo nickels with an Indian portrait engraved on the front. I was ...

Biden’s $3.5 Trillion “Make Big Government Even Bigger” Plan

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President Joe Biden journeyed from the White House to the Capitol building on October 1, 2021. There he admonished and pressured Democratic Party Senators and Congressmen to come together and pass both his $1.2 trillion infrastructure bill and his $3.5 trillion Build Back Better Act, which might more accurately be called the Make Big Government Even Bigger bill. He left with no bill, yet, to sign. When asked by a reporter about the possibility of the bill passing via a razor thin Democratic majority in both houses of Congress, a majority further divided over the size and content of the bill, Biden replied, “It doesn’t matter whether it’s six minutes, six days, or six weeks – we’re going to get it done.” Reading these words in the printed press, the reader could easily get the impression that here was a calm, collected, and experienced politician taking things all in stride as he “reasons together” with his fellow party members. So what ...

Appreciating F. A. Hayek’s Insights on Money and the Business Cycle

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Over the last few months, fears over rising price inflation have, again, become the focus of political policy makers and media pundits. While generally rising prices have a variety of deleterious effects, attention is often not given to how inflationary processes work, their negative effects beneath the surface of measured movements in the “price level.” Ninety years ago, the ...

“Progressives” Blame F. A. Hayek for Everything They Dislike

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There is the ideologically captured mind that squeezes all the complexities, diversities, uncertainties, and serendipities of life into one limited dimension of cause and explanation. One such mind is that of Wellesley College historian, Quinn Slobodian, who sees everywhere the manipulating agents of a nefarious “capitalism.” Even what seems as differing or even opposing ideas are placed through an analytical ...