By Sarah Skwire Ludwig von Mises’s essay “Economic Calculation in the Socialist Commonwealth,” references Aristophanes’ play The Birds and the medieval fantasy of the idyllic and work-free Land of Cockaigne when Mises notes of socialist planners that, Economics as such figures all too sparsely in the glamorous pictures painted by the Utopians. They invariably explain how, … [Read more...] about Aristophanes, Central Planning, and the Enduring Appeal of Utopian Fantasies
Technocracy
“It Belongs to the People, Not the Bankers”: Italy Moves to Seize Gold From Central Bank
By Tyler Durden Two weeks ago, somewhat out of the blue, ECB President Mario Draghi issued an odd statement confirming that the European Central Bank needs to approve any operation in the foreign reserves of euro zone countries, including gold and large foreign currency holdings. The ECB shall approve both the operations in foreign reserve assets remaining with the NCBs … [Read more...] about “It Belongs to the People, Not the Bankers”: Italy Moves to Seize Gold From Central Bank