I have a friend who seems to have taken the party line regarding the current crisis to heart and thinks FRB will save the world and that Bernanke ended the crisis, yadda yadda yadda. Does anyone know of a good article that is relatively complete in its scope and dispels the myths regarding what is going on today? I'm thinking of something along the lines of Tom Wood's recent speech here: http://www.youtube.com/watch?v=HAzExlEsIKk, but in text form. He refuses to watch that and insists on something textual. I don't want to throw a book in his face, so I'm wondering if anyone is familiar with a good article or paper. Thanks.
Open Letter to my friends on the left ~ Steve Horwitz
The House that Uncle Sam Built ~ Horwitz & Boettke
And a bout a zillion on the Mises website - I'm sure others will direct you to it. But these are pretty good too. Especially the first one, because it is written in a style that I consider to be very persuasive. It invites the reader to challenge it's premisses and it doesn't create a hostile environment, like some texts on this issue (rightly so) sometimes do.
Just my 2 cents.
The state is not the enemy. The idea of the state is.
Direct him to this link, the Bailout Reader on Mises. He needs do some work on his own doesn't he?
http://mises.org/daily/3128
"The market is a process." - Ludwig von Mises, as related by Israel Kirzner. "Capital formation is a beautiful thing" - Chloe732.
Thanks everyone, I'll send him all three links.