“The subjective value of money must be measured by the marginal utility of the goods for which the money can be exchanged. 1” — The Theory of Money and Credit (LvMI) by Ludwig von Mises https://a.co/4nDPrpL

“…it cannot be denied that human valuations of goods are based upon their exchange-value. It is not use-value, but exchange-value, that appears to govern the modern economic order.” — The Theory of Money and Credit (LvMI) by Ludwig von Mises https://a.co/bH4NREz

Once a man, twice a child. Do something before your circle is complete.

Classical orchestral music is extremely low time preference music to study, learn and listen to. Try it, you’ll like it.

This is a must read article! Mike Solana (@micsolana on Twitter) interviewes @jack. They cover his exit from bluesky, how twitter lost its way, jack’s strategy for ending censorship forever, new background on the elon saga, and the death of social media as we know it.

The End of Social Media: An Interview With Jack Dorsey

jack dorsey on his exit from bluesky, how twitter lost its way, jack’s strategy for ending

“Don’t confuse movement with progress, because you can run in place and not get anything done” -Denzel Washington

👀👇🏾

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Bernice A. King on Instagram: "President Carter Speaks. In the words of my father, “A genuine leader is not a searcher of consensus but a molder of consensus.” #MLK #genuineleader #moralleadership #truepeace"

21K likes, 256 comments - berniceaking on May 2, 2024: "President Carter Speaks. In the words of my father, “A genuine leader is not a searc...

“Do not gloat when your enemy falls; when they stumble, do not let your heart rejoice, or the Lord will see and disapprove and turn his wrath away from them.” ‭‭Proverbs‬ ‭24‬:‭17‬-‭18‬ ‭NIV‬‬

I just received a random act of kindness. I’ll be paying it forward as soon as I can.

stop consuming…start creating…

“The important thing is not whether a doctrine is orthodox or the latest fashion, but whether it is true or false. And although the conclusion to which my investigations lead, that expansion of credit cannot form a substitute for capital, may well be a conclusion that some may find uncomfortable, yet I do not believe that any logical disproof of it can be brought forward.” — The Theory of Money and Credit (LvMI) by #LudwigvonMises https://a.co/8lgfepn

“All proposals that aim to do away with the consequences of perverse economic and financial policy, merely by reforming the monetary and banking system, are fundamentally misconceived. Money is nothing but a medium of exchange and it completely fulfils its function when the exchange of goods and services is carried on more easily with its help than would be possible by means of barter. Attempts to carry out economic reforms from the monetary side can never amount to anything but an artificial stimulation of economic activity by an expansion of the circulation, and this, as must constantly be emphasized, must necessarily lead to crisis and depression. Recurring economic crises are nothing but the consequence of attempts, despite all the teachings of experience and all the warnings of the economists, to stimulate economic activity by means of additional credit.” — The Theory of Money and Credit (LvMI) by #LudwigvonMises https://a.co/3zc5nb5

“Everything that happens in the social world in our time is the result of ideas. Good things and bad things. What is needed is to fight bad ideas. We must fight all that we dislike in public life. We must substitute better ideas for wrong ideas. We must refute the doctrines that promote union violence. We must oppose the confiscation of property, the control of prices, inflation, and all those evils from which we suffer. Ideas and only ideas can light the darkness. These ideas must be brought to the public in such a way that they persuade people. We must convince them that these ideas are the right ideas and not the wrong ones.” — Economic Policy: Thoughts for Today and Tomorrow (Liberty Fund Library of the Works of Ludwig von Mises) by #LudwigvonMises https://a.co/gTJSuaP

“It was not the idea of the eighteenth-century founders of modern constitutional government that a legislator should represent, not the whole nation, but only the special interests of the district in which he was elected; that was one of the consequences of interventionism. The original idea was that every member of the legislature should represent the whole nation. He was elected in a special district only because there he was known and elected by people who had confidence in him. But it was not intended that he go into government in order to procure something special for his constituency, that he ask for a new school or a new hospital or a new lunatic asylum—thereby causing a considerable rise in government expenditures within his district. Pressure group politics explains why it is almost impossible for all governments to stop inflation.” — Economic Policy: Thoughts for Today and Tomorrow (Liberty Fund Library of the Works of Ludwig von Mises) by #LudwigvonMises https://a.co/dpy6iwa

“For years, people throughout the world have been writing about democracy—about popular, representative government. They have been complaining about its inadequacies, but the democracy they criticize is only that democracy under which interventionism is the governing policy of the country.” — Economic Policy: Thoughts for Today and Tomorrow (Liberty Fund Library of the Works of Ludwig von Mises) by #LudwigvonMises https://a.co/8fgNtqH

“In the United States, the two-party system of the old days is seemingly still preserved. But this is only a camouflage of the real situation. In fact, the political life of the United States—as well as the political life of all other countries—is determined by the struggle and aspirations of pressure groups. In the United States there is still a Republican party and a Democratic party, but in each of these parties there are pressure group representatives. These pressure group representatives are more interested in cooperation with representatives of the same pressure group in the opposing party than with the efforts of fellow members in their own party. To give you an example, if you talk to people in the United States who really know the business of Congress, they will tell you: “This man, this member of Congress represents the interests of the silver groups.” Or they will tell you another man represents the wheat growers.” — Economic Policy: Thoughts for Today and Tomorrow (Liberty Fund Library of the Works of Ludwig von Mises) by #LudwigvonMises https://a.co/8mXY7Si

“Pressure Group Politics Under interventionist ideas, it is the duty of the government to support, to subsidize, to give privileges to special groups. The idea of the eighteenth-century statesmen was that the legislators had special ideas about the common good. But what we have today, what we see today in the reality of political life, practically without any exceptions, in all the countries of the world where there is not simply communist dictatorship, is a situation where there are no longer real political parties in the old classical sense, but merely pressure groups. A pressure group is a group of people who want to attain for themselves a special privilege at the expense of the rest of the nation. This privilege may consist in a tariff on competing imports, it may consist in a subsidy, it may consist in laws that prevent other people from competing with the members of the pressure group. At any rate, it gives to the members of the pressure group a special position. It gives them something which is denied or ought to be denied—according to the ideas of the pressure group—to other groups.” — Economic Policy: Thoughts for Today and Tomorrow (Liberty Fund Library of the Works of Ludwig von Mises) by #LudwigvonMises https://a.co/b4sDVsV

“Outside of the United States—in Latin America, and still more in Asia and Africa—everyone wishes to see conditions improved in his own country. A higher standard of living also brings about a higher standard of culture and civilization. So I fully agree with the ultimate goal of raising the standard of living everywhere. But I disagree about the measures to be adopted in attaining this goal. What measures will attain this end? Not protection, not government interference, not socialism, and certainly not the violence of the labor unions (euphemistically called collective bargaining, which, in fact, is bargaining at the point of a gun).” — Economic Policy: Thoughts for Today and Tomorrow (Liberty Fund Library of the Works of Ludwig von Mises) by #LudwigvonMises https://a.co/dZsslnR

“In a world without migration barriers, there would be a tendency all over the world toward an equalization of wage rates. If there were no migration barriers today, probably twenty million people would try to reach the United States every year, in order to get higher wages. The inflow would reduce wages in the United States, and raise them in other countries.” — Economic Policy: Thoughts for Today and Tomorrow (Liberty Fund Library of the Works of Ludwig von Mises) by #LudwigvonMises https://a.co/imN4ve0

“What is lacking in order to make the developing countries as prosperous as the United States is only one thing: capital—and, of course, the freedom to employ it under the discipline of the market and not the discipline of the government. These nations must accumulate domestic capital, and they must make it possible for foreign capital to come into their countries. For the development of domestic saving it is necessary to mention again that domestic saving by the masses of the population presupposes a stable monetary unit. This implies the absence of any kind of inflation.” — Economic Policy: Thoughts for Today and Tomorrow (Liberty Fund Library of the Works of Ludwig von Mises) by #LudwigvonMises https://a.co/66FnZ2x