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Worst So Far This Century
March 23, 2012
The Current Crash of 1998 Is the worst so far this Century By Martin A. Armstrong Princeton Economic Institute © Copyright August 5th, 1998 There are many ways to measure the magnitude of a crash. Some might look at the overall points. This is not a valid statistic since the entire Crash of 1929 was […]
Economic Confidence Model & the July 20th Turning Point
March 23, 2012
The Economic Confidence Model & The July 20th, 1998 Turning Point By Martin A. Armstrong Princeton Economic Institute © Copyright July 21st, 1998 So far the markets that have reached a major high precisely to the day with our July 20th, 1998 target have been the US and European share markets. It is important to […]
Global Meltdown
March 23, 2012
WARNING Global Meltdown? By Martin A. Armstrong © June 1st, 1998 Princeton Economic Institute Capital is currently fleeing from emerging markets on a wide scale basis. The immediate problems that are surfacing in Russia should come as no surprise. Russia has been unable to collect taxes; unable to make payroll for months; unable to control […]
On The Principles of Political Economy and Taxation Part 2
March 21, 2012
Chapter 12: Land-Tax A land-tax, levied in proportion to the rent of land, and varying with every variation of rent, is in effect a tax on rent; and as such a tax will not apply to that land which yields no rent, nor to the produce of that capital which is employed on the land […]
An Inquiry Into the Nature and Causes of the Wealth of Nations Book 5
March 21, 2012
BOOK FIVE OF THE REVENUE OF THE SOVEREIGN OR COMMONWEALTH CHAPTER I: Of the Expenses of the Sovereign or Commonwealth ——————————————————————————– PART 1 Of the Expense of Defence THE first duty of the sovereign, that of protecting the society from the violence and invasion of other independent societies, can be performed only by means of […]
An Inquiry Into the Nature and Causes of the Wealth of Nations Book 4
March 21, 2012
BOOK FOUR INTRODUCTION ——————————————————————————– OF SYSTEMS OF POLITICAL ECONOMY POLITICAL economy, considered as a branch of the science of a statesman or legislator, proposes two distinct objects: first, to provide a plentiful revenue or subsistence for the people, or more properly to enable them to provide such a revenue or subsistence for themselves; and secondly, […]
An Inquiry Into the Nature and Causes of the Wealth of Nations Book 3
March 21, 2012
BOOK THREE CHAPTER ONE ——————————————————————————– OF THE DIFFERENT PROGRESS OF OPULENCE IN DIFFERENT NATIONS Of the Natural Progress of Opulence THE great commerce of every civilised society is that carried on between the inhabitants of the town and those of the country. It consists in the exchange of rude for manufactured produce, either immediately, or […]
An Inquiry Into the Nature and Causes of the Wealth of Nations Book 2
March 21, 2012
BOOK TWO – INTRODUCTION OF THE NATURE, ACCUMULATION, AND EMPLOYMENT OF STOCK ——————————————————————————– IN that rude state of society in which there is no division of labour, in which exchanges are seldom made, and in which every man provides everything for himself, it is not necessary that any stock should be accumulated or stored up […]
An Inquiry Into the Nature and Causes of the Wealth of Nations Book 1
March 21, 2012
BOOK ONE OF THE CAUSES OF IMPROVEMENT IN THE PRODUCTIVE POWERS. OF LABOUR, AND OF THE ORDER ACCORDING TO WHICH ITS. PRODUCE IS NATURALLY DISTRIBUTED AMONG THE DIFFERENT RANKS OF THE PEOPLE. CHAPTER I ——————————————————————————– Of the Division of Labour THE greatest improvement in the productive powers of labour, and the greater part of the […]
Birth of Coinage
March 19, 2012
The Origins of Money Chapter III By Martin A. Armstrong The Birth of Coinage The Importance of Weight As trade between regions and nations gradually began to expand, some form of international trade would have been necessary. It is perhaps because of this primary reason that ultimately money among trading nations at least tended to […]
