Salma Hayek

http://www.scribd.com/doc/114942493/IceCap-Asset-Management-Limited-Global-Markets-November-2012

Fight of the Century: Keynes vs. Hayek Round Two

http://youtu.be/GTQnarzmTOc

Dr. Keynes killed the patient

http://www.realclearmarkets.com/articles/2010/08/20/dr_keynes_killed_the_patient_98632.html

American consumers are trying their best to deleverage. In terms of the story, the patient is actually trying to lose weight. But the government is blocking deleveraging and trying to boost consumption. They are forcing food down the patient's throat. According to the Flow of Funds Report, households reduced debt at a 2.4% annualized rate ($330 billion) during Q1 of 2010. Meanwhile, the federal government was piling on debt at an 18.5% annual rate ($1.44 trillion). Since every dollar of government debt is a promise to tax the private sector in the future with interest, this public spending spree effectively negated the Herculean efforts of the private sector to return to a sustainable path.

That's where the arrogance of Washington is really apparent. Scores of millions of American consumers have made the decision that reducing their debt burden is in their best interests right now. But a few hundred individuals in government believe they know better than the collective wisdom of the entire free market. By leveraging up the public sector, they have used their power to confiscate our savings. In short, they are forbidding us from following the common sense path to fiscal health.

The pretence of knowledge

http://www.economicnoise.com/2010/07/29/hayek-vs-bernanke/

Austrian School of Economics

The Austrian School of Economics is gaining popularity because it accurately predicts market cycles, despite suppression by mainstream Keynesian economists and politicians, who desire political and financial power.

http://www.thenewamerican.com/index.php/economy/economics-mainmenu-44/3323-austrian-economics-rising

Austrian school economists understand the common-sense principle that nations – like people – build wealth from savings and investment and not from borrowing and spending.

Arguing that big-government arguments for intervention in the marketplace would not really replace laissez-faire chaos, von Mises’ logical critique of state planning was withering against socialism and fascism/Keynesianism. Von Mises wrote in Human Action, “The alternative is not plan or no plan. The question is whose planning? Should each member of society plan for himself, or should a benevolent government alone plan for them all? The issue is freedom versus government omnipotence.” Von Mises explains that “laissez faire does not mean: Let soulless mechanical forces operate. It means: Let each individual choose how he wants to cooperate in the social division of labor; let the consumers determine what the entrepreneurs should produce. Planning means: Let the government alone choose and enforce its rulings by the apparatus of coercion and compulsion.”