Archive for July, 2009

The Federal Reserve Transparency Act Continues To Gain Ground

In July 2009, Congress held hearings on the Federal Reserve System’s independence. Congress discussed Ron Paul’s bill, HR 1207, known as the Federal Reserve Transparency Act, as well as whether or not the Federal Reserve should continue to operate independently. Even though President Obama campaigned on and promised greater transparency in government, and even though [...]

Where Does Society’s Wealth Come From?

“All that man values is created by his industry…” –J.C.L. Simonde de Sismondi, “Political Economy,” 1815, Chapter 2 “…wealth never can come in but by the produce of labour going out…” –James Steuart, “The Principles of Political Economy,” 1767, Book 1, Chapter 14 “… the strongest and most industrious majority, which supports the whole society.” [...]