The Devil’s Dictionary of Economics
Search For: (All Definitions Starting with the Letter: V)
Definition Total: (5)
Page: (1) of (1)
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| V for Vendetta |
At great personal risk, V seized a TV station so that he could ask the people “to stand beside me, one year from last night, outside the gates of Parliament.” And, dutifully, they all showed up a year later carrying candles. Frankly, he could have achieved the same effect, though probably without the candles, if he had tacked up some posters advertising live oil wrestling. To defeat an army, it takes an army. Only in comic books can one man who is really handy with a sword (V, Zorro, the Flame, etc.) defeat an army. In real life, General Byrd would have given the order to fire on the candlelight procession because, if he did not, Adam Sutler would torture his children. Defeating oppression requires that the people bring guns, not candles, and that they have tactics that will work against a modern infantry army. See Sniper Flash Cards.
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| Vacuum |
A place where Federal Reserve meetings do not take place. Keen writes, “The market economy may have evolved, but it seems [to Murray Rothbard] the State was simply imposed from outside as an alien artefact upon our landscape.” In Section VIII of my 2004 paper, I write, ”Interest rates are a good example of what Keen means by an ‘alien artefact…’ Interest rate spikes occur when the central banker’s hand is forced. Hayekians need to concentrate more on how and when this happens rather than just declaring that it is inevitable.” See Reversion to the Mean.
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| Value Scale |
The values (in money) that one assigns to phenomena. It is described by Axiom One of my theory. See my Simplified Exposition.
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| Victory |
1) Something that will elude any political candidate who associates himself with the Mises Institute. Americans are hesitant to vote for a member of a cult – they’re just funny that way. 2) "The war is not over, it is decisively on it's way to being won... So what if I guy threw his shoe at me?" said Bush, only five years after he invaded. He's probably right - they've run out of IEDs and are throwing their shoes. It's only a matter of time now before they give up.
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| Voters |
Not complete idiots. Most of them understand that there is no such thing as a free lunch. See McSame.
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