Last week I returned from the Von Mises Institute’s Birthplace of Economic Theory Summit held in Salamanca, Spain. 

Here is a brief overview of what I observed:

- The genesis of free market economics wasn’t really Adam Smith.  He merely brought to the Anglo-Saxon world that which the Jesuit scholars in the 1500’s brought to Spain.

- The same free market model that was applied all those centuries ago hasn’t changed because it’s based on human actions. 

- My time in Salamanca reinforced my inner beliefs that free market economics (or what we in the West call Austrian economics) is absolutely the best out there because it takes into consideration the natural state of human behavior. 

- The pragmatists there agreed with my thoughts that the next two years in the market and economy ought to be fine and thereafter the outcome will hinge on what changes may occur with our fiscal and monetary policies. 

- It seemed half of the Americans in attendance were followers of the Von Mises Institute, free market advocates and Libertarian/Classic Liberal thinkers.   

- There is a wonderful free market renaissance going on in Europe but unfortunately not in America yet.  The internet is driving this movement and opening a lot of eyes to show people there is an alternative to big government.

Photo Credit: Ludwig von Mises Institute

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5. Federal Reserve – What Is It’s Job?

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