Economics - Michael DeVinney

The Neurosis of Interest

An entrepreneurial action is made anytime money is lent. The moneylender is making an entrepreneurial action if he can’t see … Read the rest

Special experience is not required in order to act. Nor can laboratory experiments be done in regard to human action. … Read the rest

Humans act because we are uncertain about the future. The physical sciences don’t allow us to see into the future … Read the rest

A money can only be used if there are more than two individuals and two goods in society. It must … Read the rest

The right to property is the right to contract with that property. Property is the title to ownership. You have … Read the rest

The business cycle is caused by artificial credit expansion by the central bank and commercial banks too—if the reserve requirement … Read the rest

Change is linked with the passage of time. Action aims at change. In turn, time passes. Therefore, action is … Read the rest

Society is the outcome of acting individuals cooperating. It’s not the outcome of a few telling others what to do… Read the rest

Crusoe is approached by Friday. Friday tells Crusoe he gets one fish for every two fish he catches. Crusoe is … Read the rest

You don’t have rights in statism. You only have duty to the overlords. You are engaging in mutually beneficial transactions … Read the rest