Ludwig von Mises and his followers have shown convincingly that the long-term effects of the expansion of credit are very different depending on whether credit is backed by saving or backed merely by money creation.

If additional credit is extended via money production the additional investment that is being promoted has ultimately no support from the sphere of real resources. Only voluntary saving from the consumer can redirect resources from consumption to investment in accordance with consumer’s preferences. This is why saving is ultimately essential for the expansion and maintenance […]

Every successful achievement begins with decision. Most unsuccessful lives are conspicuously absent of decision. Most people go through life making decisions by default, choosing only from narrow options dictated by others or by evolving circumstances.

Successful entrepreneurs learn to be much more assertive, proactive, and creative in making decisions to change things as they prefer, to make things happen. If you are to succeed as an entrepreneur, you have to break free of your old reacting and responding mode and switch to the assertive, proactive mode. You have to reject […]

Implant Uses Electricity To Heal The Heart

It’s intended for use in patients afflicted with dilative cardiomyopathy, a condition in which the heart muscle degrades to the point that it can no longer contract sufficiently. Current treatments involve drug regimens or the implantation of pacemakers, although when those approaches aren’t sufficient, a complete heart transplant is often necessary. That’s where the new […]

An element of elasticity has always been part of the monetary infrastructure, simply through the mining of the precious metals that used to be dominant forms of money.

This elasticity has historically been of minor importance, however. Even discoveries of new gold or silver deposits, which have naturally caused an expansion of money in circulation and thereby led to inflationary distortions, never generated the type of economic disruptions that have become the hallmark of systems of elastic paper money. For the past 300 […]

Zigging and Zagging

Dr. Maxwell Maltz presents, in his book, ‘Psycho-Cybernetics’, ‘zig-zagging’ and ‘course correction’ as the entire basis for human achievement. He points out that hardly anybody gets to any goal via a straight line, but gets there instead by moving, bumping up against something, moving a different way, bumping, zigging, zagging, but moving, moving, moving. Dan […]