Brian Simpson @ Capitalism Magazine has done an excellent job of summarizing the causes of the economic meltdown over in the US and the measures that need to be taken to solve the crisis. You can read the article here.
In India too the RBI is jumping in on the action and cutting key rates. Interventionism cannot and will not lead to a laissez-faire economy. Hasn't history proven that over & over again? Central banks all over need to perish if the global economy is to be salvaged in the long run.
If you want to learn more about Austrian Economics, please stop by mises.org and browse the literature section. I would highly recommend Economics in One Lesson & Human Action.
[I found the article via my Google Reader feed but I'd like to hat tip Gus Van Horn also.]
October 31, 2008
Gold and a Free Market
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