Bread and circuses. #Memestr #DankMemes #NostrMeme #NostrMemes #Nostr #Plebchain #Zap #Laughstr #Jokestr #LOL #Comedy #Funny #Sportstr #Football #SuperBowl #SuperBowlLX

"Labour, of course, is hired and dismissed. But the entrepreneur's function as regards capital is not exhausted by the hire of services. Here his function is to *specify* and make decisions on the concrete form the capital resources shall have...As long as we disregard the heterogeneity of capital, the true function of the entrepreneur must also remain hidden. In a homogeneous world there is no scope for the activity of specifying." - Ludwig M. Lachmann, ***Capital and Its Structure*** (1978) p. 16. Cato Institute. https://mises.org/library/book/capital-and-its-structure #AnCap #Libertarian #Antistate #AustrianEconomics #Capital #CapitalGoods #ProducerGoods #HigherOrderGoods #Heterogeneity #HeterogeneousGoods #Entrepreneurship #EconomicCalculation #Calculation #Quotestr

"Heterogeneity of Capital means heterogeneity in use; Heterogeneity in use implies Multiple Specificity; Multiple Specificity implies Complementarity; Complementarity implies Capital Combinations; Capital Combinations form the elements of the Capital Structure." - Ludwig M. Lachmann, ***Capital and Its Structure*** (1978) p. 12. Cato Institute. https://mises.org/library/book/capital-and-its-structure #AnCap #Libertarian #Antistate #AustrianEconomics #AustrianSchool #Capital #CapitalGoods #ProducerGoods #HigherOrderGoods #Heterogeneity #HeterogeneousGoods #Specificity #Complementary #Combinations #CapitalStructure #Quotestr

Laissez faire et laissez passer!

Reminder that the United States has not had a real free market since 1913. #Agorism #Agorist #AnCap #MarketAnarchist #Libertarian #Antistate #FreeMarket #Market #Economy #LaissezFaire #SpontaneousOrder #Entrepreneurship #Liberty #Freedom #CentralPlanner #EndTheFed

Rogue isn't in the Epstein files so we're good chat.

"The root of the trouble is well known: *capital resources are heterogeneous.* Capital, as distinct from labour and land, lacks a 'natural' unit of measurement...Yet, the economist cannot do his work properly without a generic concept of capital. Where he has to deal with quantitative change he needs a common denominator. Almost inevitably he follows the business man in adopting money value as his standard of measurement of capital change." - Ludwig M. Lachmann, ***Capital and Its Structure*** (1978) p. 2. Cato Institute. https://mises.org/library/book/capital-and-its-structure #AnCap #Libertarian #Antistate #AustrianEconomics #AustrianSchool #Capital #CapitalGoods #ProducerGoods #SoundMoney #Money #MediumOfExchange #MoE #Measurement #Scarcity #Quotestr

"In general, no significant, continuous rise in the price of securities can be accounted for by an improvement in production conditions nor by an increase in voluntary saving; such a rise can only be indefinitely maintained as a result of inflationary growth in credit expansion. A sustained improvement in the economy and an increase in voluntary saving generate a greater monetary influx into the stock market, but this inflow is slower and more gradual and is rapidly absorbed by the new securities issued by companies with an aim to finance their new investment projects. Only continuous, disproportionate growth in the money supply in the form of credit expansion can feed the speculative mania (or 'irrational exuberance') which characterizes all stock market booms." - Jesús Huerta de Soto, ***Money, Bank Credit, and Economic Cycles*** (2020) p. 433 4th ed. Translated by Melinda Stroup. https://mises.org/library/book/money-bank-credit-and-economic-cycles #AnCap #Libertarian #Antistate #BusinessCycle #BoomBustCycle #Boom #Bust #Money #Credit #Economics #Finance #StockMarket #Stocks #Bonds #Securities #Malinvestment #SoundMoney #Quotestr

We need this everywhere! It pisses me off so much knowing how suddenly people forget about the Epstein files, Gaza, and everything else as soon as the Super Bowl comes on. #Memestr #DankMemes #NostrMeme #NostrMemes #Nostr #Plebchain #Zap #Laughstr #Jokestr #LOL #Comedy #Funny #Video #Videostr #BullishBounty

"The creation of Special Drawing Rights (SDRs), defined initially in terms of sixteen and later five leading export nations, and issued by the IMF, was a move toward a one-world currency and a one-world bank under U.S. domination. Another important push toward this goal was provided through the activities of the Trilateral Commission (TC), founded in 1973 as an offshoot of David Rockefeller’s Council on Foreign Relations." - Hans-Hermann Hoppe, ***The Economics and Ethics of Private Property*** (2006) p. 113. 2nd ed. Ludwig von Mises Institute. https://mises.org/library/book/economics-and-ethics-private-property #Agorism #Agorist #AnCap #Libertarian #Antistate #Antigovernment #Antimonopoly #Antiglobalism #FreeMarket #FreeTrade #SoundMoney #CounterEconomics #NonCustodial #Bitcoin #Monero #IMF #TrilateralCommission #Quotestr

Happy Bread and Circuses Day! View quoted note →