By Swithun Dobson
The handling of the post EU referendum has been pitifully slow and bumbling for two main reasons: the first, which is obvious, no-one close to the reins of power actually wants to leave and the second is the belief that Britain must secure a free trade deal with the EU in a post-Brexit world. Almost all economists, even Paul Krugman, believe that a world entirely shorn of tariffs would be a better place. Each country would be able to specialise where it has its comparative advantage (a situation of having a lower opportunity cost than another country in producing that good), leading to lower prices, more innovation and overall greater welfare. This is even in the case where you have predominantly agricultural third world economies trading with leading world economies, such as the UK. The principle is sound. Read more
By Swithun Dobson
What is the purpose of money? Where does it come from? Inequality generates trade and specialisation creates the need for money . A good money is widely marketable and must function as a genuine store of value, thus paper money should be consigned to the board game Monopoly.
Inequality Leads To Trade
In a state of subsistence farming money need not exist, since a family, for example the Robinsons, might produce all the requirements for survival (food, shelter, clothing, water etc) and so have no reason to trade; however as soon as they come into contact with another family, the Andersons, group trade is possible and thus money could arise. Yet, why would anyone bother trading with another group in the first place? Mises cites three reasons:
- The natural inequality of man regarding their abilities to perform a task.
- The geographically unequal distribution of natural resources.
- Certain tasks require more than the labour of one man.
In which Andy Duncan and Godfrey Bloom talk about Brexit and, towards the end of the interview, let slip that Mises UK will be happening. Watch this space.
The Rise of the Radical Right: The Alt-Right Neoreaction and the Trump Campaign
By Jakub Jankowski
(29th August 2016)
Equality is bullshit. Hierarchy is essential. The races are different. The sexes are different. Morality matters and degeneracy is real. All cultures are not equal and we are not obligated to think they are. Man is a fallen creature and there is more to life than hollow materialism. Finally, the white race matters, and civilisation is precious. This is the Alt-Right.
– Millennial Woes
Hillary Clinton’s newest offensive against Donald Trump’s campaign involves the vilification of a political movement that until recently was reputedly hiding in the ‘far reaches of the internet’ from which ‘dark conspiracy theories’ are allegedly being forged. This denunciation was aimed at an increasingly popular congregation known as the ‘Alternative Right.’ This crowd was recently labelled as ‘Trump’s Shock Troops’ by the BBC in an overt reference to Nazi Germany, and as ‘white supremacists’ as well as ‘a paranoid fringe group’ by Clinton herself, during the speech she gave in Reno, Nevada. How close is Clinton to the truth – is the ‘Alt-Right’ really solely composed of racist, intolerant, neo-Nazis and of other non-kosher superficial labels? Warm, hot, cold! Read more