=THE HUMBLE LIBERTARIAN=



The Definition of Libertarian: What Is Libertarian?

Reade This Landmark Book, A Most Comprehensive Survey of a Divers and Formidable Moovement in Politikal and Philosophical Thought:



THE LIBERTARIANS



The Ron Paul Revolution in Retrospect

The Rand Paul Revolution?

The Tea Party Movement

The Libertarian Party

The Free State Project

The Seasteading Movement

The Austrian Economists

The Anarchists

The Voluntaryists: Stefan Molyneux and Peaceful Parenting

The Agorists: Market Alternatives as Subversion

Objectivism: The Philosophy of Ayn Rand

The Ronald Reagan Revolution

The Crypto-Anarchists: Digital Currency and 3D Printed Guns

WikiLeaks and the Power of Disclosures

The Beltway Libertarians: Think Tanks

State Sovereignty Libertarians

The Psychological Libertarians

Wednesday, December 14, 2011

The Truth About U.S. Economic History

Brian Domitrovic writes at Forbes.com:

There is one major inflection point in U.S. economic history. Before this point, growth was high, at about 4% per year for a century. Also in this period, there was remarkable price stability and so little unemployment that the nation had to import tens of millions of workers from abroad.

After this point, growth was moderate, at about 3% per year for the long term, with variations in the form of major depressions and recessions and a 23-fold inflation which had no like in the previous epoch.

This inflection point was 1913 – the very year which the reforms TR plumped for in his last campaign, the income tax and the Federal Reserve, came into being. 1913 marks the one secular shift in American economic history toward lower growth and more economic unpleasantness in the form of unemployment, inflation, and serial recession.

Had this nation grown at the 4%-rate achieved in the pre-1913 period, we would be twice as well-off today.




Wes Messamore,
Editor in Chief, THL
Articles | Author's Page

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