By G. Edward Griffin
The place does funds come from? the place does it move? Who makes it? the money magicians' secrets and techniques are unveiled. We get an in depth examine their mirrors and smoke machines, their pulleys, cogs, and wheels that create the grand phantasm known as funds. A dry and uninteresting topic? simply wait! You'll be hooked in 5 mins. Reads like a detective tale - which it truly is. yet it's all precise. This e-book is set the main blatant rip-off of all historical past. It's all the following: the reason for wars, boom-bust cycles, inflation, melancholy, prosperity. Creature from Jekyll Island is a "must read." Your global view will certainly swap. You'll by no means belief a political candidate back - or a banker.
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Extra resources for The Creature from Jekyll Island: A Second Look at the Federal Reserve
Rank has its peace Each rank carries its burden. 48 47 48 4t 50 L. M. Lachmann: Capital and its structure. London: 1956, p. 79. E. von Bohm-Bawerk: Nationaiokonomie, op. , p. 383/4, p. 440. F. von Wieser: Theorie der gesellsdtaftlimen Wirtsmaft, op. , p. 354. 21 Austrian &onomics I Intellectual and Political Roots of the Older Austrian smoo} 423 with organized labor whim will destroy the absolute supremacy of capital. With the emergence of unions a new stable order is reamed. The dynamics started by business ventures lead to a stationary situations1 .
In his "Theory of Social Economy" he compared advantages and disadvantages of free competition. He is not so sure whether the good of free competition is balancing the evil44 • The epigones of the great classics, so Wieser complained, have applied th~ dogma (\f laissez-faire to an economic system whim was too complicated to be controlled by one single principle. Contrary to his followers Adam Smith was too wise to advocate unrestrained competition. The older Wieser became the more he moved away from the political program of laissez-faire, from economic and political freedom.
The neoclassical revolution was brought about by three distinct authors in three different places. W. Stanley Jevons (1835-82) in Manchester (and later Francis Y. Edgeworth, 1845-1926, in Oxford) presented economics mainly as the calculus of pleasure and pain of the rational individual. Leon Walras (1834-1910) in Lausanne was above all interested in equilibrium prices resulting from market exchange. Finally, in Vienna, Carl Menger (1840-/921), the founder of the Austrian School, treated the whole span of the decision process of individual economic man to thorough economic analysis.
The Creature from Jekyll Island: A Second Look at the Federal Reserve by G. Edward Griffin