Copyright Martin Armstrong All Rights Reserved April 25th, 2012 The Rule of Law Justice For You – Justice for Me – Justice For Your Enemies http://youtu.be/yLpXCk4BPOw One of the most critical last straws that accompany the collapse of every empire is the demise of the Rule of Law. The gentle but powerful influence of laws […]

CONSIDERATIONS ON REPRESENTATIVE GOVERNMENT BY JOHN STUART MILL, AUTHOR OF “A SYSTEM OF LOGIC, RATIOCINATIVE AND INDUCTIVE” NEW YORK: HARPER & BROTHERS, PUBLISHERS, FRANKLIN SQUARE 1862. Preface Those who have done me the honor of reading my previous writings will probably receive no strong impression of novelty from the present volume; for the principles are […]

De Amicitia, Scipio’s Dream By Cicero Translated, with an Introduction and Notes By Andrew P. Peabody SYNOPSIS. * * * * * DE AMICITIA 1. Introduction. 2. Reputation of Laelius for wisdom. The curiosity to know how he bore the death of Scipio. 3. His grounds of consolation in his bereavement 4. He expresses his […]

A Continued Era of Deflation or A Premature Expectation of Inflation? © Martin A. Armstrong Economists and analysts argue that double-digit inflation is something of the past – a freak of nature that took place during the Carter years of the mid-70s. On April 19th, 1993, Alan Greenspan (Chairman of the Federal Reserve) made a statement […]

Modern Capitalism Two developments paved the way for the emergence of modern capitalism; both took place in the latter half of the 18th century. The first was the appearance of the physiocrats in France after 1750; and the second was the devastating impact that the id eas of Adam Smith had on the principles and […]

Monetary History of Japan As legend has it, Japan was founded around 660BC by a direct descendent of the Sun Goddess. It is from this basic legend that Japan derives the name of “Land of the Rise Sun.” Japan has a long monetary history which dates back to when coins were first introduced from neighboring Korea […]

The Paper Chase Part II ©Copyright June 1988 The Panic of 1869, which caused gold to rally significantly, was in itself a sign to the government that paper money would not win the affections and confidence of the people just yet – this would take time. The question of what was actually money remained an […]

Part III of IV—A Brief History of World Credit & Interest Rates by Martin A. Armstrong ©Copyright PEI  1690 – 1774 AD The eighteenth century was a period of strong economic and political growth for Britain. Constitutional parliamentary government, which had replaced the monarchy, appeared to foster great national expansion. The currency of Britain remained […]

Part I of IV—A Brief History of World Credit & Interest Rates by Martin A. Armstrong ©Copyright PEI  3000 BC – 500 AD—The Rise and Fall of Babylon – Greece – Rome Credit is usually thought of as a modern invention of perhaps only a few hundred years old. It is true that a few […]

Abscissa – the horizontal baseline of a chart, x-axis. Ad Valorem Tax – A tax levied as a fixed percentage of the value of a particular item. Aggregate Demand – Total planned or desired spending in the economy as a whole in a given period. It is determined by the aggregate price level and by influences such as […]