Archive for July 10th, 2015

Lenin and Marx: Sound Money Advocates?

July 10, 2015

Louis Rouanet of Mises Institute says atleast their words suggest so. However, in practice Lenin policies unleashed high inflation.

Most modern socialists are in favor of inflation, because it is supposed, in Keynes’s words, to “euthanize the rentiers.” It doesn’t mean however, that the “founding fathers” of socialism were in favor of inflation. In fact, the opposite is true. Karl Marx had a wide knowledge of the economic literature and even though he’s usually wrong, he was correct in his preference for a gold standard.

As for Lenin, he was in his writings opposed to inflation and saw paper money as a means used by the bourgeois capitalists to enrich themselves. Even though Marx and Lenin were not supporters of inflation, they supported sound money for the wrong reasons. But, at least, we can say that concerning money they did not succumb to naïve inflationist views.

I mean it is even difficult to imagine that Lenin of all would actually believe in sound money policies..

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140 years of BSE: Banyan Tree to BOLT

July 10, 2015

BSE was established in 1875 and completes its 140 years in 2105.

Sachin Mampatta of BS has a piece and some trivia on the anniversary:

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The 10 biggest India’s policy mistakes of the past that have yet to be dealt with

July 10, 2015

Shankar Acharya gives his list:

(more…)


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