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Library of Economics and Liberty(Liberty Fund)

The Library of Economics and Liberty is dedicated to advancing the study of economics, markets, and liberty. It offers a unique combination of resources for students, teachers, researchers, and aficionados of economic thought.

The website is provided by Liberty Fund, Inc., a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals. The Foundation develops, supervises, and finances its own educational activities, with the goal of fostering discussion and thought on enduring topics pertaining to the creation and maintenance of such a society.

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Posted on By: Fred

Federal Reserve System

Several monetary institutions appeared in the United States prior to the formation of the Federal Reserve System, or Fed. These were, in order: the constitutional gold (and bimetallic) standard, the First and Second Banks of the United States, the Independent Treasury, the National Banking System, clearinghouse associations, and the National Reserve Association. The Fed was the last such institution founded. Although it has endured, the present-day Fed would be unrecognizable to its founders.

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Posted on By: Fred

Federal Reserve

What is the Federal Reserve System?
The Federal Reserve System, often referred to as the Federal Reserve or simply “the Fed,” is the central bank of the United States. It was created by Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role has evolved and expanded.

When was the Federal Reserve created?
The Federal Reserve was created on December 23, 1913, with the signing of the Federal Reserve Act by President Woodrow Wilson. The act had been drafted as House Resolution 7837 by Representative Carter Glass (D-VA), incoming chairman of the House Banking and Currency Committee.

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The Winner: Rush Limbaugh

“I hope he fails.” With those famous four words, uttered January 16, 2009 — only days before Barack Obama was to be inaugurated — Rush Limbaugh drew a line in the sand.

And as a result, this morning it is Rush Limbaugh who is the undisputed winner of the 2010 election. The White House is repudiated. The Pelosi-run House of Representatives, supported by the Democrats’ Congressional Campaign Committee, also deliberately targeted Limbaugh. Speaker Pelosi is, abruptly, now history. The Senate is richer by a still-undetermined number of conservatives as this goes to Internet press.

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Posted on By: Fred

National Review

There is, we like to think, solid reason for rejoicing. Prodigious efforts, by many people, are responsible for NATIONAL REVIEW. But since it will be the policy of this magazine to reject the hypodermic approach to world affairs, we may as well start out at once, and admit that the joy is not unconfined.

Let’s face it: Unlike Vienna, it seems altogether possible that did NATIONAL REVIEW not exist, no one would have invented it. The launching of a conservative weekly journal of opinion in a country widely assumed to be a bastion of conservatism at first glance looks like a work of supererogation, rather like publishing a royalist weekly within the walls of Buckingham Palace. It is not that, of course; if NATIONAL REVIEW is superfluous, it is so for very different reasons: It stands athwart history, yelling Stop, at a time when no one is inclined to do so, or to have much patience with those who so urge it.

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Posted on By: Fred

Commentary Magazine

Commentary is America’s premier monthly magazine of opinion and a pivotal voice in American intellectual life. Since its inception in 1945, and increasingly after it emerged as the flagship of neoconservatism in the 1970’s, the magazine has been consistently engaged with several large, interrelated questions: the fate of democracy and of democratic ideas in a world threatened by totalitarian ideologies; the state of American and Western security; the future of the Jews, Judaism, and Jewish culture in Israel, the United States, and around the world; and the preservation of high culture in an age of political correctness and the collapse of critical standards.

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FrontPageMag.com

David Horowitz was one of the founders of the New Left in the 1960s and an editor of its largest magazine, Ramparts. He is the author, with Peter Collier, of three best selling dynastic biographies: The Rockefellers: An American Dynasty (1976); The Kennedys: An American Dream (1984); and The Fords: An American Epic (1987). Looking back in anger at their days in the New Left, he and Collier wrote Destructive Generation (1989), a chronicle of their second thoughts about the 60s that has been compared to Whittaker Chambers’ Witness and other classic works documenting a break from totalitarianism. Horowitz examined this subject more closely in Radical Son (1996), a memoir tracing his odyssey from “red-diaper baby” to conservative activist that George Gilder described as “the first great autobiography of his generation.”

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