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Source link: http://archive.mises.org/19978/mises-daily-monday-december-19-2011/

Mises Daily: Monday, December 19, 2011

December 19, 2011 by

“The Pure Time-Preference Theory of Interest” by Doug French

By dictating key interest rates, modern central bankers are believed to be alchemists. As the world struggles to deleverage, with the market constantly forced to clear malinvestments of a continuous string of asset bubbles and crashes, central bankers continue their faith in the ancient tradition: more monetary elixir.

“The Market for Literary Products” by Ludwig von Mises

Capitalism is essentially a system of mass production for the satisfaction of the needs of the masses. The outstanding example is literature.

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