김미영소장..부정선거 싸움이 이제부터 탙탈탈홍홍홍 http://www.ilbe.com/view/11351628663 저는 부정선거 관련된 인터뷰 및 취재를 가장 많이 한 사람 중 하나일 것입니다. 제 관점에서 이번 감정 결과로 증거가 확보되었습니다. 이제 시작입니다. 저는 변호사단에 영향을 끼치기 위한 활동은 최소화했습니다. 왜냐하면 변호사들조차 전모를 이해하지 못했기 때문입니다. 이 글은 변호사들과 대화를 시도하기 위한 것입니다. 일단 열어봐야 대화가 될 것으로 보았습니다. 저는 재검해도 표 수는 맞춰져 있고 로그데이터를 들여다보지 않는 한 QR로 증거가 나오지는 않는다고 봤습니다. 증거는 사후 인멸 과정에서 전산으로 결정된 수치를 실제 표와 맞추기 위해 필요했던 표에 있다고 봤습니다. 이미 있는 표로 맞추었으면 빳빳한 종이일 것이고, 없어서 급조했으면 인쇄상태가 나쁠 것으로 봤습니다. 1. QR코드는 단순 정보만 있을 것이다. 사전이냐 당일이냐 용도, 그리고 겉으로 일련번호가 드러나지 않는 용도 정도였을 것이다. 그러나 프로그램을 위해 매우 중요하다. 사전명부 대조 로그데이터 확인 없이 QR만으로 증거는 확보되지 않을 것이다. 2. 문제는 사전 투표가 끝났을 때 당일 투표 이후 필요한 표 수가 얼추 미리 다 계산되었을 것이다. 빅데이터가 이미 필요수를 계산했고 실물표가 사전에 준비되어 있었다. 3. 개표 과정에서 계산을 해 나가면서 마지막으로 목표치에 접근해 가면서 당락을 결정하는 수치가 확정되었을 것이다. 4. 문제는 중앙선관위 통계수치 발표 이후 부정선거 의혹이 불거졌고 미리 준비해서 맞춰 두었던 표수와 통계 수치가 정확하게 일치하지는 않았을 것이다. 5. 선거가 끝난 후부터 법원 보전 신청까지의 시간 동안 통계수치와 실제 표수를 정확히 맞추는 작업을 했을 것이다. 이때는 많은 표가 필요하지는 않지만 정밀하게 맞추어야 하기 때문에 가장 어려운 단계의 증거인멸이다. 이것이 핵심이고 그래서 뒤처리 작업에서 증거가 드러난다고 보고 있었다. 6. 선거 후부터 법원 보전 사이에 표 맞춤을 위해 들어간 투표지를 찾아내는 것이 이번 재검표의 의미라고 생각했다. 그런데 바로 그런 급조된 표들이 나왔다!! 이것이 4.15 빼박 증가다. 7. 결론 : 4.15부정선거는 세 단계로 이루어졌다. 사전에 필요 표수가 계산되어 있었다. 실물표가 미리 준비되어 있었다. 그러나 사전에 준비되었다 해도 컴퓨터 계산값과 정확히 일치하지는 않는다. 재검해도 당락 변화는 일어나지 않는다. 다만 사후에 대대적 발각을 예상 못했을 것이다. 따라서 증거인멸은 최종 통계치와 실제 투표지수를 "정확히" 일치시키는 작업을 말한다. 이 수는 얼마되지 않지만 매우 정교해야 되고 사후에 표 맞춤이 쉽지 않았을 것이다. 빳빳한 투표지, 급히 인쇄된 투표지가 필요했던 이유다. 우리의 요구 1. 푸른색 인쇄지, 급조된 인쇄지, 빳빳한 인쇄지 공개하고 정밀 감정해야 한다. 2. 다른 곳들도 다 열어 보아야 한다. 3. 선거 명부 대조 필수! 검증은 이제부터 시작이다! 민경욱 이언주 이은권은 이런 식으로 맞춰 두었을 것이나 다른 데는 제대로 못 맞추었을 것이다. 보전 신청한 데 모두 한꺼번에 열어보아야 한다. 그리고 보전신청되지 않은 곳도 다 보전되고 검증되어야 한다. --------------------------------------------------------------------------------------------- 바이든 당선 이후 충격적인 진짜 미국 근황...JPG 갈비개굴꺄팡덮밥 http://www.ilbe.com/view/11351597405 https://blog.naver.com/sjumo12/222291117224 https://blog.naver.com/sjumo12/222377104676 실제 미국교포가 쓴 글 사람들 여전히 총이랑 총알 삼 이유는 좌파정권이 경찰예산 삭감해서 치안공백 장기화 시민들 경찰혐오도 맥스찍고 자영업자들은 경찰 대신 갱스터출신 자경단한테 보호비상납 흑인들은 이때다 싶어서 코리아타운 공략중 이거 완전 미국판 광주 폭동 해방구 아니냐??? 언론에선 바이든 잘한다 잘한다 하지만 길바닥은 완전히 장악못한듯. -------------------------------------------------------------------------------------------------------- [재개표]대법관과 선관위원들 전원 사형해야 한다 익명50마오 http://www.ilbe.com/view/11351595952 법적으로 몇 달만에 해야하는 재판도 1년 2개월 넘겨 해 녹화도 못하게 해 기자도 못들어가게 해 이미지 원본 파일 못 받아도 그냥 넘어가 방청도 못하게 해 공범이다.. 부정선거 주요 사범들이 이 놈들이다. 사형하라!! ------------------------------------------------------------------------------------------------------- 미국 교육계에 무슨 일이.. GROUND C https://youtu.be/2vYcDwYHhxA 탈북운동가 박연미 Fox인터뷰 │ 미국 대학 미쳤네 https://youtu.be/p9B-V7doCyI ---------------------------------------------------------------------------------------- (1보)민주당, 국가교육위법으로 전교조통해 전국민 좌빨세뇌교육 실시 2030공정 http://www.ilbe.com/view/11351679759 -최근 민주당은 국가교육위 설치법을 강행처리하기로 함. 내용은 문재인과 민주당이 전교조원들로 국가교육위원회를 채운 후, 이들이 나라의 모든 중장기 교육정책을 결정하게 함. -이에 따라 대학입시나 교원채용 등 여러 분야에서 좌빨 교육자들이 더 쉽게 채용되고 좌경화를 가속화하게 교육제도 바꿀 예정. 이에 따라 이번에 천안함 군인들에게 쌍욕했던 휘문고 교사도 한자리 차지할 듯 -이제 우리들의 어린 자녀들은 전교조들이 만든 좌경화 교재를 이용해 어려서부터 더 좌경세뇌교육을 당하게 됨에 따라 문재인과 민주당은 더 오랫동안 좌빨 독재 가능해짐. ------------------------------------------------------------------------------------------------- (1보) 586좌빨들이 이런 기막힌 방법으로 2030세대를 등쳐먹었으니 우리가 지금 힘들지.. 2030공정 http://www.ilbe.com/view/11351678366 586좌빨 꼰대들은 대학에서 데모만 하고 공부를 안했으니 능력은 없는데 권력욕심은 많아서, 갖은 감언이설로 국민 선동해야 권력잡을 수 있고 대통령 단임이니 이 기회에 한탕해야 노후를 즐길 수 있어. 방법은 우선 유착기업에게 특혜준다고 해서 뇌물받은 후, 정부규제를 피할 수 있게 해주고 특정주주에게 환매특혜 등을 맘대로 설정할 수 있는 사모펀드를 만들어, 이 기업주식을 사서 상장특혜든 정부사업취득이든 정부보조금 지급등을 권력과 혈세를 이용해 주가 올린 후 개미투자자들에게 비싸게 처분하고 한몫 챙기는거야. 이 정부 집권중 마음대로 쓴 천조원이 넘는 국책사업 자금들 (K방역, 일자리, 여성, 저출산,태양광, 바이오,보조금…)이 이런식으로 결국 이스타항공,지오영,신라젠,암호화폐거래소 등의 기업을 거쳐 라임, 옵티모스 등의 사모펀드로 돈이 흘러가게 하고 거기서 번 돈으로 강남아파트, 상가건물 마구 사들이며 떼돈을 번 거지. 이 모든 것을 위해 검찰 금융특수부도 폐지하고 대통령 친인척 감시 비서관은 아직까지 임명하지 않았지. 부정한 방법으로 돈벌었으니 정권바뀌면 다치지 않기 위해 검찰 무력화하고 경찰 정치화하고 공수처 세워 방패막이 만들어. 그리고 국회, 법원, 헌법재판소, 선관위, 시민단체들에 꼬붕 심어서 이중삼중으로 퇴임후를 대비하지. 좌빨들끼리 지 자식들 좋은 자리로 끌어주고 추천해줘서 자식들도 혜택누리게 하고 민주화유공자녀우대법도 만들어 자손대대로 혈세를 빨게 법을 만들어 놔. 하지만 겉으로는 적폐청산, K방역선전, 남북정상회담, 반일선동 등으로 국민들 관심을 다른 곳으로 돌리고 선거때면 혈세를 선심쓰듯이 국민에게 풀어 이기면 돼. 국민여러분, 이 정부가 그렇게 많은 혈세를 여러분들에게서 걷어갔는데도, 4년이 지난 지금 여러분들은 파산,실직,부도,코로나 등으로 더 힘든 이유는 이 자들이 중간에서 여러분이 낸 혈세를 가로챘기 때문입니다. 더구나 국방붕괴, 외교왕따, 사회분열, 환경오염, 건강 실업보험 파탄도 모자라 중국 시진핑에게 나라까지 팔아넘기기 위해 전국 각처의 군부대 근처에 중국문화단지 세워서 전쟁시 우리 군인들 뒤에 치게 만들고, 우리 먹거리 기술도 다 갖다바치고 있습니다. 이제는 한국전쟁때 수십만 우리 여인들 유린한 중공군들을 위해 혈세로 추모시설까지 건립하자고 난리이고 시진핑 일대일로 연결돕기 위해 북한에 우리 혈세 수십조원으로 고속철도 항만 등을 대신 깔아주게 하는 법도 은밀히 통과시켰습니다. 이 모든 부정부패는 문재인의 권력에 의존하고 있으므로 결국 문재인이 여러분 돈을 훔치고 여러분 노후를 망가뜨린 겁니다. 그런데도 문재인은 올해에도 지 연봉은 올리고 퇴임하면 매달 수천만원 연금을 혈세로 받고 땅값오른 양산 호화주택에서 노후를 즐기며 여러분들을 비웃고 있을겁니다. ----------------------------------------------------------------------------------------------- (1보) 문재인, 좌빨자식들에겐 수조원씩 퍼주고 수백만원 천안함 유족연금은 떼먹으려 하고... 2030공정 http://www.ilbe.com/view/11351678093 문재인이 천안함 유족들에게 유족연금을 이 핑계 저 핑계로 지급을 하지 않는다는 중앙일보 기사보고 너무 화가 나서 씁니다. -애초에 민주당은 천안함은 자작극이라고 했고, 위원회 만들어 재조사를 시도하더니, 이젠 나라 지키다 순국한 영웅들이 유족에 남긴 돈도 빼먹으려 했네요. 문재인은 대통령되고도 좌빨들이 일으킨 여러 폭동의 추모제엔 꼬박꼬박 참석하면서 지난번에 천암함 추모제에 마지못해 한번 참여했을 때에도 기자들이 사진 다 찍으니 화환도 엉망으로 만들어 놓더니… -이미 다수당인 민주당이 통과시켜 4.3특별법은 6월 시행을 앞두고 있는데, 제주폭동 일으킨 좌빨 자손들에게 혈세 1조3천억원 퍼준답니다. 연평해전 천안함 참전군인은 버림받아 막노동판을 전전한다던데… 이제 대통령 임기 1년도 안 남고 선거에도 지게 생기니까 여당이 다수당일때 중국과 북한을 위해서 할 수 있는 모든 법을 바꿀 생각이군요. -이번엔 민주당과 정의당이 힘을 합쳐 국가보안법 폐지법안 법사위에 회부했네요. 둘이 합치면 다수당이니 곧 국가보안법 페지되면, 중국간첩이나 북한간첩이 여러분 가족 학살하고 재산 빼앗어가도 정부는 보호해줄 법적 근거가 희박해 집니다. -집권이후, 우리 전방부대 해체하고, 간첩침투 용이하게 한강하구 지도 다 내주고, 수도권 탱크방호시설 철거하고, 비상시 정부대처체계 해체하고, 한미 연합훈련 막고, 군부대옆에 중국간첩들의 아지트인 중국문화센터 마구 허가해주고, 간첩잡던 국가정보원, 정보사 유능직원들 다 잘라내고… -문재인 집권한 다음부터 현충원에선 태극기도 이용못하게 하고 애국가도 못 부르게 하면서, 한국전쟁때 수백만명의 우리 국민과 여인들을 유린하고 죽이고 통일을 좌절시킨 중공군을 위해서 추모시설 건립 추진하고... -김정은위해 북한저작물 이용료 수금하러 다니던 임종석을 문재인 취임하자마자 대통령 비서실장으로 임명해서 최고급 군사기밀들이 다 북한으로 흘러갔을 텐데… 이것을 방어하려면 모든 군대와 무기체계 배치 다 바꾸려면 혈세만 수십조원 더 허비해야 할텐데… -코로나 초기엔 중국인들 마구 입국시켜 혈세로 치료해주고 수백만 마스크 조공하더니, 지난번엔 시진핑 일대일로 도와주기위해, 북한에 도로 항만 등 기간시설 우리 혈세 수십조로 지어주는 법도 민주당이 은밀하게 추진하더니… -이번에 미국가서도 44조원 첨단산업 퍼주고도 백신도 제대로 못 챙기면서 바이든이 김정은이랑 대화는 계속 해보겠다니까 그저 좋아서 실실. 연관산업효과와 하청업체까지 미국으로 빠져나가면 결과적으로 100조원 넘는 먹거리 첨단산업과 수십만개의 고연봉 일자리와 수십조원의 세수도 같이 빠져나가는 건데.. 이미 문재인이 반기업,탈원전,북한지원, 포퓰리즘정책으로 수백조의 재정적자 나게 생겼는데 부족한 세수는 다 2030세대가 세금,준조세,연금,보험료,벌금으로 메꿔야 하다니... -바이든과 회담 전에 중공군 무찌른 영웅 훈장수여해서 친중하는 것 조롱당하고, 부실급식먹는 우리 군인들의 건강을 미국 대통령이 백신으로 챙겨주는데도 말도 못하고 실실거리며 어색하게 웃는 모습에 내가 다 얼굴이 화끈해짐. 바이든이 마스크 벗어던지는 것 보며 문재인이 국민 속이고 화이자 맞았다고 확신. 결과적으로, 문재인은 여러분이 세금은 더 내게 하면서, 북한과 중국이 좀 더 여러분 재산을 빼앗고 여러분이 사랑하는 사람들을 쉽게 죽이게 만들어 놓고 있네요. 그래도 최근 대국민 회견에서 지 자랑만 하면서 민주당은 사상 최대의 방미실적이라고 아부하고... 그럼에도 문재인은 올해도 지 연봉인상하고 퇴임후엔 죽을때까지 매달 수천만원씩 어러분들로부터 혈세 뽑아먹게 되어 있습니다. 이제는 분노할 일에 분노해야 우리의 가족과 재산을 지킬 수 있습니다 ------------------------------------------------------------------------------------------------------- Jun 27, 2021 Donald Trump Wellington, Ohio Rally Speech Transcript: First Rally Since Leaving Office Donald Trump: (02:55) America first. You never used to hear that expression, did you? You hear it plenty now. After just five months, the Biden administration is already a complete and total catastrophe. I told you, crime is surging. Murders are soaring. Police departments are being gutted. Illegal aliens are overrunning their borders. Nobody’s ever seen anything like it. Our poor borders, they were so perfect, they were so good. Donald Trump: (03:32) Drug cartels and human traffickers are back in business. Like they’ve never been before. They’re doing numbers that they’ve never even thought possible. And just a few short months ago, drugs were way down. Human trafficking was way down. It was all way down. They had to do is go away for a little while. It was beautiful. Donald Trump: (03:55) But the schools, when you take a look at schools, and you look at all of the things that happen, left-wing indoctrination camps, critical race theory is being forced on our military, gas prices are spiking, inflation is skyrocketing and China, Russia and Iran are humiliating our country. 무려 1시간이 넘는 연설의 일부 https://www.rev.com/blog/transcripts/donald-trump-wellington-ohio-rally-speech-transcript-first-rally-since-leaving-office ------------------------------------------------------------------------------------------ 간략하게 봄바베르크의 학술 이론과 나아가 오스트리아 학파의 핵심 이론을 소개한 글 Böhm-Bawerk: Austrian Economist Who Said No to Big Government Richard M. Ebeling We live at a time when politicians and bureaucrats only know one public policy: more and bigger government. Yet, there was a time when even those who served in government defended limited and smaller government. One of the greatest of these died one hundred years ago on August 27, 1914, the Austrian economist Eugen von Böhm-Bawerk. Böhm-Bawerk is most famous as one of the leading critics of Marxism and socialism in the years before the First World War. He is equally famous as one of the developers of “marginal utility” theory as the basis of showing the logic and workings of the competitive market price system. But he also served three times as the finance minister of the old Austro-Hungarian Empire, during which he staunchly fought for lower government spending and taxing, balanced budgets, and a sound monetary system based on the gold standard. Danger of Out-of-Control Government Spending Even after Böhm-Bawerk had left public office he continued to warn of the dangers of uncontrolled government spending and borrowing as the road to ruin in his native Austria-Hungary, and in words that ring as true today as when he wrote them a century ago. In January 1914, just a little more than a half a year before the start of the First World War, Böhm-Bawerk said in a series of articles in one of the most prominent Vienna newspapers that the Austrian government was following a policy of fiscal irresponsibility. During the preceding three years, government expenditures had increased by 60 percent, and for each of these years the government’s deficit had equaled approximately 15 percent of total spending. The reason, Böhm-Bawerk said, was that the Austrian parliament and government were enveloped in a spider’s web of special-interest politics. Made up of a large number of different linguistic and national groups, the Austro-Hungarian Empire was being corrupted through abuse of the democratic process, with each interest group using the political system to gain privileges and favors at the expense of others. Böhm-Bawerk explained: We have seen innumerable variations of the vexing game of trying to generate political contentment through material concessions. If formerly the Parliaments were the guardians of thrift, they are today far more like its sworn enemies. Nowadays the political and nationalist parties … are in the habit of cultivating a greed of all kinds of benefits for their co-nationals or constituencies that they regard as a veritable duty, and should the political situation be correspondingly favorable, that is to say correspondingly unfavorable for the Government, then political pressure will produce what is wanted. Often enough, though, because of the carefully calculated rivalry and jealousy between parties, what has been granted to one [group] has also to be conceded to others—from a single costly concession springs a whole bundle of costly concessions. He accused the Austrian government of having “squandered amidst our good fortune [of economic prosperity] everything, but everything, down to the last penny, that could be grabbed by tightening the tax-screw and anticipating future sources of income to the upper limit” by borrowing in the present at the expense of the future. For some time, he said, “a very large number of our public authorities have been living beyond their means.” Such a fiscal policy, Böhm-Bawerk feared, was threatening the long-run financial stability and soundness of the entire country. Eight months later, in August 1914, Austria-Hungary and the rest of Europe stumbled into the cataclysm that became World War I. And far more than merely the finances of the Austro-Hungarian Empire were in ruins when that war ended four years later, since the Empire itself disappeared from the map of Europe. A Man of Honesty and Integrity Eugen von Böhm-Bawerk was born on February 12, 1851 in Brno, capital of the Austrian province of Moravia (now the eastern portion of the Czech Republic). He died on August 27, 1914, at the age of 63, just as the First World War was beginning. Ten years after Böhm-Bawerk’s death, one of his students, the Austrian economist Ludwig von Mises, wrote a memorial essay about his teacher. Mises said: Eugen von Böhm-Bawerk will remain unforgettable to all who have known him. The students who were fortunate enough to be members of his seminar [at the University of Vienna] will never lose what they have gained from the contact with this great mind. To the politicians who have come into contact with the statesman, his extreme honesty, selflessness and dedication to duty will forever remain a shining example. And no citizen of this country [Austria] should ever forget the last Austrian minister offinance who, in spite of all obstacles, was seriously trying to maintain order of the public finances and to prevent the approaching financial catastrophe. Even when all those who have been personally close to Böhm-Bawerk will have left this life, his scientific work will continue to live and bear fruit. Another of Böhm-Bawerk’s students, Joseph A. Schumpeter, spoke in the same glowing terms of his teacher, saying, “he was not only one of the most brilliant figures in the scientific life of his time, but also an example of that rarest of statesmen, a great minister of finance…. As a public servant, he stood up to the most difficult and thankless task of politics, the task of defending sound financial principles.” The scientific contributions to which both Mises and Schumpeter referred were Böhm-Bawerk’s writings on what has become known as the Austrian theory of capital and interest, and his equally insightful formulation of the Austrian theory of value and price. The Austrian Theory of Subjective Value The Austrian school of economics began 1871 with the publication of Carl Menger’s Principles of Economics. In this work, Menger challenged the fundamental premises of the classical economists, from Adam Smith through David Ricardo to John Stuart Mill. Menger argued that the labor theory of value was flawed in presuming that the value of goods was determined by the relative quantities of labor that had been expended in their manufacture. Instead, Menger formulated a subjective theory of value, reasoning that value originates in the mind of an evaluator. The value of means reflects the value of the ends they might enable the evaluator to obtain. Labor, therefore, like raw materials and other resources, derives value from the value of the goods it can produce. From this starting point Menger outlined a theory of the value of goods and factors of production, and a theory of the limits of exchange and the formation of prices. Böhm-Bawerk and his future brother-in-law and also later-to-be-famous contributor to the Austrian school, Friedrich von Wieser, came across Menger’s book shortly after its publication. Both immediately saw the significance of the new subjective approach for the development of economic theory. In the mid-1870s, Böhm-Bawerk entered the Austrian civil service, soon rising in rank in the Ministry of Finance working on reforming the Austrian tax system. But in 1880, with Menger’s assistance, Böhm-Bawerk was appointed a professor at the University of Innsbruck, a position he held until 1889. Böhm-Bawerk’s Writings on Value and Price During this period he wrote the two books that were to establish his reputation as one of the leading economists of his time, Capital and Interest, vol. I, History and Critique of Interest Theories (1884), and vol. II, Positive Theory of Capital (1889). A third volume, Further Essays on Capital and Interest, appeared in 1914 shortly before his death. In the first volume of Capital and Interest, Böhm-Bawerk presented a wide and detailed critical study of theories of the origin of and basis for interest from the ancient world to his own time. But it was in the second work, in which he offered a Positive Theory of Capital, that Böhm-Bawerk’s major contribution to the body of Austrian economics may be found. In the middle of the volume is a 135-page digression in which he presents a refined statement of the Austrian subjective theory of value and price. He develops in meticulous detail the theory of marginal utility, showing the logic of how individuals come to evaluate and weigh alternatives among which they may choose and the process that leads to decisions to select certain preferred combinations guided by the marginal principle. And he shows how the same concept of marginal utility explains the origin and significance of cost and the assigned valuations to the factors of production. In the section on price formation, Böhm-Bawerk develops a theory of how the subjective valuations of buyers and sellers create incentives for the parties on both sides of the market to initiate pricing bids and offers. He explains how the logic of price creation by the market participants also determines the range in which any market-clearing, or equilibrium, price must finally settle, given the maximum demand prices and the minimum supply prices, respectively, of the competing buyers and sellers. Capital and Time Investment as the Sources of Prosperity It is impossible to do full justice to Böhm-Bawerk’s theory of capital and interest. But in the barest of outlines, he argued that for man to attain his various desired ends he must discover the causal processes through which labor and resources at his disposal may be used for his purposes. Central to this discovery process is the insight that often the most effective path to a desired goal is through “roundabout” methods of production. A man will be able to catch more fish in a shorter amount of time if he first devotes the time to constructing a fishing net out of vines, hollowing out a tree trunk as a canoe, and carving a tree branch into a paddle. Greater productivity will often be forthcoming in the future if the individual is willing to undertake, therefore, a certain “period of production,” during which resources and labor are set to work to manufacture the capital—the fishing net, canoe, and paddle—that is then employed to paddle out into the lagoon where larger and more fish may be available. But the time involved to undertake and implement these more roundabout methods of production involve a cost. The individual must be willing to forgo (often less productive) production activities in the more immediate future (wading into the lagoon using a tree branch as a spear) because that labor and those resources are tied up in a more time-consuming method of production, the more productive results from which will only be forthcoming later. Interest on a Loan Reflects the Value of Time This led Böhm-Bawerk to his theory of interest. Obviously, individuals evaluating the production possibilities just discussed must weigh ends available sooner versus other (perhaps more productive) ends that might be obtainable later. As a rule, Böhm-Bawerk argued, individuals prefer goods sooner rather than later. Each individual places a premium on goods available in the present and discounts to some degree goods that can only be achieved further in the future. Since individuals have different premiums and discounts (time-preferences), there are potential mutual gains from trade. That is the source of the rate of interest: it is the price of trading consumption and production goods across time. Böhm-Bawerk Refutes Marx’s Critique of Capitalism One of Böhm-Bawerk’s most important applications of his theory was the refutation of the Marxian exploitation theory that employers make profits by depriving workers of the full value of what their labor produces. He presented his critique of Marx’s theory in the first volume of Capital and Interest and in a long essay originally published in 1896 on the “Unresolved Contradictions in the Marxian Economic System.” In essence, Böhm-Bawerk argued that Marx had confused interest with profit. In the long run no profits can continue to be earned in a competitive market because entrepreneurs will bid up the prices of factors of production and compete down the prices of consumer goods. But all production takes time. If that period is of any significant length, the workers must be able to sustain themselves until the product is ready for sale. If they are unwilling or unable to sustain themselves, someone else must advance the money (wages) to enable them to consume in the meantime. This, Böhm-Bawerk explained, is what the capitalist does. He saves, forgoing consumption or other uses of his wealth, and those savings are the source of the workers’ wages during the production process. What Marx called the capitalists’ “exploitative profits” Böhm-Bawerk showed to be the implicit interest payment for advancing money to workers during the time-consuming, roundabout processes of production. Defending Fiscal Restraint in the Austrian Finance Ministry In 1889, Böhm-Bawerk was called back from the academic world to the Austrian Ministry of Finance, where he worked on reforming the systems of direct and indirect taxation. He was promoted to head of the tax department in 1891. A year later he was vice president of the national commission that proposed putting Austria-Hungary on a gold standard as a means of establishing a sound monetary system free from direct government manipulation of the monetary printing press. Three times he served as minister of finance, briefly in 1895, again in 1896–1897, and then from 1900 to 1904. During the last four-year term Böhm-Bawerk demonstrated his commitment to fiscal conservatism, with government spending and taxing kept strictly under control. However, Ernest von Koerber, the Austrian prime minister in whose government Böhm-Bawerk served, devised a grandiose and vastly expensive public works scheme in the name of economic development. An extensive network of railway lines and canals were to be constructed to connect various parts of the Austro-Hungarian Empire—subsidizing in the process a wide variety of special-interest groups in what today would be described as a “stimulus” program for supposed “jobs-creation.” Böhm-Bawerk tirelessly fought against what he considered fiscal extravagance that would require higher taxes and greater debt when there was no persuasive evidence that the industrial benefits would justify the expense. At Council of Ministers meetings Böhm-Bawerk even boldly argued against spending proposals presented by the Austrian Emperor, Franz Josef, who presided over the sessions. When finally he resigned from the Ministry of Finance in October 1904, Böhm-Bawerk had succeeded in preventing most of Prime Minister Koerber’s giant spending project. But he chose to step down because of what he considered to be corrupt financial “irregularities” in the defense budget of the Austrian military. However, Böhm-Bawerk’s 1914 articles on government finance indicate that the wave of government spending he had battled so hard against broke through once he was no longer there to fight it. Political Control or Economic Law A few months after his passing, in December 1914, his last essay appeared in print, a lengthy piece on “Control or Economic Law?” He explained that various interest groups in society, most especially trade unions, suffer from a false conception that through their use or the threat of force, they are able to raise wages permanently above the market’s estimate of the value of various types of labor. Arbitrarily setting wages and prices higher than what employers and buyers think labor and goods are worth—such as with a government-mandated minimum wage law—merely prices some labor and goods out of the market. Furthermore, when unions impose high nonmarket wages on the employers in an industry, the unions succeed only in temporarily eating into the employers’ profit margins and creating the incentive for those employers to leave that sector of the economy and take with them those workers’ jobs. What makes the real wages of workers rise in the long run, Böhm-Bawerk argued, was capital formation and investment in those more roundabout methods of production that increase the productivity of workers and therefore make their labor services more valuable in the long run, while also increasing the quantity of goods and services they can buy with their market wages. To his last, Eugen von Böhm-Bawerk defended reason and the logic of the market against the emotional appeals and faulty reasoning of those who wished to use power and the government to acquire from others what they could not obtain through free competition. His contributions to economic theory and economic policy show him as one of the greatest economists of all time, as well as his example as a principled man of uncompromising integrity who in the political arena unswervingly fought for the free market and limited government. Originally published September 6, 2014. -----------------------------------------------------------------------------------------------