Change Your Facebook Banner

We all know Facebook is awesome for keeping up with friends, sharing about your life, and even distributing ideas. One great new way to get people thinking is to take advantage of the new banner profile with the help of Intellectual Takeout. Here's what one of our banners looks like loaded up on a Facebook profile:

Facebook Banner

If you haven't changed your banner profile, than Facebook is likely auto-populating it with photos from your album(s) or from photos you've been tagged in. While those photos are sure nice, have you thought about changing it to promote freedom? If not, below are some ideas and instructions for you to consider.

Step 1 - Pick one of the images below:

Step 2 - Right click on the image you want and save it to your computer.

Step 3 - Go to Profile Banner on Facebook. Click here. You'll see a menu titled "Upload Your Own":

Facebook Profile Banner

Choose the image file you saved to your computer. Then you'll need to select "Scale, Crop & Rotate Image." After that, click "Upload." Once you click "Upload" you'll need to "Squash", "Scale", and maneuver the image to fit into the boxes. Once it looks good, click "Post" and then follow the directions after that. Enjoy! 

The Amagi

According to Liberty Fund, the Amagi (or Ama-gi) "is the earliest-known written appearance of the word 'freedom' (amagi), or 'liberty.' It is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash." Learn more here.

Amagi Freedom Cuneiform


The Goal is Freedom

We do not seek to implement a rigid ideology, to create an empire, or force people to live a certain way. Rather, the goal is to live in a nation in which individual freedom, including economic freedom, is seen as a just end in and of itself. Indeed, what nation is greater than one that exists to protect and promote the individual liberties of its citizens?

Goal is Freedom


Read the Constitution

We all know there are a variety of ways of looking at the Constitution. Whatever your position, the thing to keep in mind is that it is the document binding the country together, our social contract if you will. It's something worth reminding your friends and family to read. 

Read the Constitution


Only Congress can Declare War

Thinking about Libya? Remember, only Congress can declare war. Article I, Section 8 of the Constitution reads, "The Congress shall have Power  ... To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water." In other words, the President can't make war without the consent of Congress.

Only Congress can Declare War


The 10th Amendment

Tired of the federal government overstepping its bounds? Remind your friends and family that if the Constitution doesn't grant the United States government the power to do something, then that power is reserved for the states or the people. To learn more about the 10th Amendment, click here.

10th Amendment  


The 2nd Amendment

Do you cherish the right to defend yourself? If so, promote that Constitutional right with the banner below. To learn more about the 2nd Amendment, click here.

2nd Amendment


Dear TSA: Read the 4th Amendment

The 4th Amendment states: "The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized." Does that sound like what's happening at the airports and train stations? Show how you feel about it with the banner below. To learn more about the TSA, click here.

TSA 4th Amendment


The 4th Amendment

These days the government is always looking for an excuse to search your stuff. Do we really want to live in a country where cops and government officials can search your person or your property willy-nilly? No. Make sure your friends know their Constitutional rights by using the banner below.

4th Amendment


Time to Balance the Budget

Worried about the federal government's runaway spending? We are, too. $14.3 trillion in debt is way too much. It's time to balance the budget and for the government to live within its means. To learn more about the national debt, click here.

balance the budget



The rise in prices at the pump and grocery store isn't an act of God. The Federal Reserve, the folks in charge of our money, have made inflation a policy. Help your friends and family understand the root cause of what's going on with the banner below. To learn more about inflation, click here.

Inflation Monetary Policy Friedman


Fear the Boom and Bust

Are you thinking things with the economy just aren't right? You're not alone. The folks in charge believe that more credit and printing money will get things going again. While that might be true for a little while, history tells us the effort is unsustainable and ultimately ends in a bust. 

Hayek Fear the Boom and Bust


Depression and Credit Expansion

Ludwig von Mises, the notable economist, once stated that, "Depression is the aftermath of credit expansion." Now that most Americans have experienced the Housing Bubble, driven mainly by credit expansion (easy money), many of us have learned the lesson. Unfortunately, the worst may still be ahead as the federal government props up the economy by borrowing and spending roughly 10% of the economy. If you want to learn more about deflation, click here



Who is John Galt?

If you're looking around, thinking things are falling apart, and that government seems to be working against you, you might be right. In Ayn Rand's famous tome, Atlas Shrugged, "Who is John Galt?" becomes the line that sums up that sentiment. If you haven't read Atlas Shrugged, it's a classic and controversial novel that's well worth a read. Get it here

Atlas Shrugged


Competition is Cooperation

Too often these days society seems intent on promoting the idea that competition is evil and that only by cooperating with each other can we build a just and prosperous future. The reality is that competition is a form of cooperation. Furthermore, competition has created tremendous prosperity, particularly compared to societies organized around forced cooperation. If you want to spread the message that competition is a good thing, then throw up the banner below. To learn more about competition, click here

Competition is Cooperation


Don't Tread on Me

A classic in the liberty movement. Widely recognized as a symbol of the liberty movement, the motto says it all, "Don't Tread on Me." In other words, let the individual be free to pursue his or her ambitions. You can learn more about the history of the Gadsden Flag here.

 Don't Tread on Me

Prices Communicate Information

Few individuals mind when prices go down. But when prices go up, depending on the good for sale, the public outcry can be enormous. More often than not, politicians will want to "fix" things with wage and price controls. History has repeatedly shown, even here in the U.S., that wage and price controls do not work. The ability to freely set prices is fundamental to a market economy. Prices communicate information and help individuals properly allocate scarce resources. To learn more about the role of prices, click here.


 Wage and Price Controls Don't Work

Wage and Price Controls


We're on the Road to Serfdom

The famous economist F.A. Hayek wrote The Road to Serfdom in which he explored the competing ideas of classical liberalism, fascism, and socialism as well as compared individualism and collectivism. His basic message is that as individuals trade life in a free society for security through economic planning that they will inevitably become more and more impoverished and enslaved to the state (i.e., serfdom). If you haven't read the book, it is a must-read. You can purchase it here. Where are we now? We're on the road to serfdom.

We're on the Road to Serfdom


Property Rights are a Cornerstone of Freedom

Who owns you? Do you own yourself or does the government own you? It's a fundamental philosophical question that reveals how central the concept of property rights is to individual freedom.

Property is a Cornerstone of Freedom


Learn more about the ideas of individual liberty at

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Quote Page

Commentary or Blog Post

"As January 20 nears, Barack Obama's ambitions for spending on the likes of roads, bridges and jobless benefits keep growing. The latest leak puts the 'stimulus' at $1 trillion over a couple of years, and the political class is embracing it as a miracle cure.

Not to spoil the party, but this is not a new idea. Keynesian 'pump-...

This short piece and corresponding graph illustrate the effectiveness of Keynesian economic theory during the recent economic downturn. Chris Edwards offers a simple math formula to further drive home the message: "Biggest Keynesian Stimulus + Slowest Recovery = Time to Rethink Keynesian Theory."

"The eclipse of Keynesian economics proceeds. When Keynes wrote 'The General Theory of Employment, Interest and Money' in the mid-1930s, governments in most wealthy nations were relatively small and their debts modest. Deficit spending and pump priming were plausible responses to economic slumps. Now, huge governments are often saddled with massive debts. Standard Keynesian remedies for...

"A professor of economics at Harvard University from 1983-1991, Lawrence Summers served as chief economist of the World Bank and secretary of the Treasury before returning to Harvard University as its president in 2001.

In this interview, Summers discusses the battle of ideas, globalization and its backlash, the Asian financial...

"Both Marx and Hobson believed that the principal cause of depression was the insufficient ability of capitalists to find sufficient investment opportunities to offset increased savings generated by economic growth. Keynes uniquely contributed to this view by showing how the relation of savings to income could lead to a stable economy but with a depressed level of...

"As extended unemployment swells almost everywhere across the advanced industrial world, that question is turning into a lightning rod for governments.

For years, Denmark was held out as a model to countries with high unemployment and as a progressive touchstone to liberals in the United States. The Danes, despite their lavish...

"According to Keynesian economists, government hiring stimulates the private sector during a recession because government employees go out and spend much of their paychecks in the private sector, and extra demand is exactly what the private sector needs during a recession. But this year’s experience with census hiring contradicts that view."

"The British economist John Maynard Keynes may live on in popular legend as the world’s most influential economist. But in much of Europe, and most acutely here in the land of his birth, his view that deficit spending by governments is crucial to avoiding a long recession has lately been willfully ignored."

In this week’s chart, Mercatus Center Research Fellow Matthew Mitchell uses data from the Bureau of Economic Analysis to illustrate the increase in the size of federal, state, and local expenditures as a share of GDP over the course of the past century.

"We are all Keynesians now. Even the right in the United States has joined the Keynesian camp with unbridled enthusiasm and on a scale that at one time would have been truly unimaginable.

For those of us who always claimed some connection to the Keynesian tradition, this is a moment of triumph, after having been left in the...

"Some readers ask whether Keynes believed that the government should always run deficits — and whether I believe that too. The answer is no on both counts."

"The problem today is Keynesian-style policy, the darling of the establishment politicos and media giants: big government solutions, deficit spending, easy money, bailouts.  Keynes has suddenly trumped Adam Smith.  And that's dangerous."

"The New Deal dam project that professor Malamud is so proud of provided a few thousand jobs 80 years ago, but has spurred migration, farming, and development that is likely unsustainable and may ultimately be the biggest malinvestment in history."

"Within the context of income-expenditure analysis, it is appropriate to think of Friedman's Monetarism as being directly opposed to Keynesianism. Although both Keynesianism and Monetarists accept the same high level of aggregation, one which closes off issues believed by the Austrians to be among the most important, they have sharp disagreements about the nature...

"So influential was John Maynard Keynes in the middle third of the twentieth century that an entire school of modern thought bears his name. Many of his ideas were revolutionary; almost all were controversial. Keynesian Economics serves as a sort of yardstick that can define virtually all economists who came after him."

"The late revered British economist John Maynard Keynes, whose 1936 treatise, The General Theory of Employment, Interest, and Money, changed the way many economists think about recessions, once wrote that 'in the long run we’re all dead.' Well...

"For a while, there has been a strain of center-left American commentary that has viewed China's leaders as some kind of technocratic super-geniuses who have done a much better job of guiding their society than the loons and hacks who would actually, you know, be voted for. Call this the Tom Friedman school of thought.

In reality, China's leaders have a tendency to fall for a lot of the...

This piece explains President Obama's Keynesian nature and describes some of the confusion this causes with his ancestry connections. Yadron attempts to clarify that Obama's economic ideas (i.e. Keynesian) are vastly different from his relation to the...

"[Martin Wolf] thinks the Republicans' 'de facto Keynesianism' puts the Democrats at a historic disadvantage, as it's almost impossible to run against a party that constantly promises everyone a free lunch and blames the other guys when the check arrives. He thinks the situation could become disastrous if a Republican win leads to long-term policies so fiscally irresponsible as to flirt...

"This week, Senior Research Fellow Veronique de Rugy gives an updated version of stimulus spending and unemployment based on the most recent data from the Bureau of Labor Statistics and the Center for Data Analysis. The administration’s promise that the ARRA bill would keep unemployment rates from breeching 8.8 percent and would create some 3 million jobs—90 percent of which would be in the...

Kates discusses Federal Reserve Chairman Alan Greenspan's fondness of Keynes, the failure of most public discussions to understand that tax cuts and public spending are not merely ways to stimulate the economy, the Japanese experience with Keynesian economics, and the reality that Keynes' ideas dominate most economic thinking so far in the...

"The Great Depression created a widespread misconception that market economies are inherently unstable and must be managed by the government to avoid large macreconomic fluctuations, that is, business cycles. This view persists to this day despite the more than 40 years since Milton Friedman and Anna Jacobson Schwartz showed convincingly that the Federal Reserve’s...

"As soon as the Obama administration-in-waiting announced its stimulus plan — this was before Inauguration Day — some of us worried that the plan would prove inadequate. And we also worried that it might be hard, as a political matter, to come back for another round.

Unfortunately, those worries have proved justified. The bad...

"More than three decades have passed since Richard Nixon, the Republican US president, declared: 'We are all Keynesians now.'

The phrase rings truer today than at any time since, as governments seize on John Maynard Keynes’s idea that fiscal stimulus – public spending and tax cuts – can help dig their economies out of recession...

Chart or Graph

Japan's economy grow anemically over that decade, but as the nearby chart shows, its national debt exploded.

In their responses to the financial crisis and recession, many countries have adopted policies that limit economic freedom. The negative effect of these policies on future growth rates is predictable and certain, and it is already beginning to be manifest in the data and in countries’ Index of Economic Freedom scores.

[This figure] reports the impact of government spending increases implied by the American Recovery and Reinvestment Act in our model with rule-of-thumb consumers compared to the impact in the Smets-Wouters model previously shown in Figure 2.

It is clear from Figure 1 that the results are vastly different between the different models. Perhaps the most important difference is that in one case higher government spending keeps on adding to GDP 'as far as the eye can see,' while in the other case the effect on GDP diminishes as non-government components are crowded out by government spending.

[The figure] presents the results of the simulation. The bar graph shows the increased government purchases as a share of GDP, and the line graph shows the impact of the increase in purchases on real GDP according to the Smets-Wouters model.

This chart and its corresponding article discusses the Keynesian-minded stimulus spending mainly enacted during the Obama administration.

The chart shows how expenditures as a share of GDP spiked during World War II but were reduced rapidly and significantly. However, spending never returned to the pre-war level and has followed a general upward trend ever since.

The unemployment rate started at 7.6 percent when President Obama took office and peaked at 10.2 percent in October of 2009. Since the enactment of the American Recovery and Reinvestment Act (ARRA) in February 2009, unemployment has not approached pre-ARRA unemployment rates again.

"Another update to the chart used by the Obama administration to promote its stimulus package. (Real figures charted as red dots.) Professor Steve Horwitz says that it's time to call it a failure. It's hard to disagree. Even on its own terms, the stimulus has not delivered the jobs promised. In fact, the situation is worse than the projection of unemployment without the recovery plan.


Analysis Report White Paper

The predominant, Keynesian, view of the effects of fiscal policy that was embedded in the large scale macroeconometric models of the seventies and eighties has come under attack.

"Both New Classical and New Keynesian macroeconomic theorists misunderstand and distort old Keynesian economics, alleging that its diagnoses and prescriptions depend on the indefensible assumption that money wages and prices are 'rigid.'"

"International financial crises…have led to perennial fiscal adjustment. Alternatives to the permanent fiscal adjustment, the main legacy of the Washington Consensus, from a Post Keynesian perspective, are presented. It is emphasized that the notion of the euthanasia of the rentier is a necessary complement to the socialization of investment."

We quantify the fiscal multipliers in response to the American Recovery and Reinvestment Act (ARRA) of 2009. We extend the benchmark Smets-Wouters (Smets and Wouters, 2007) New Keynesian model, allowing for credit-constrained households, the zero lower bound, government capital and distortionary taxation.

Ebeling, president of the Foundation for Economic Education, gives a brief introduction to the fundamental history and beliefs behind Keynesian economics. He then presents Henry Hazlitt's critiques of Keynes' ideas on economics.

"The doctrine of an inverse relationship between inflation and unemployment is a crude generalization of fictitious interaction between inflation and unemployment. It denies basic economic principles, obscures economic knowledge, and contradicts economic reality. Many Keynesians themselves are beginning to wonder whether the Phillips curve really exists."

"There is considerable evidence to argue that Keynes had an 'on the spot' approach to full employment, where the problem of unemployment is solved via direct job creation, irrespective of the phase of the business cycle."

"Keynesian economics is a theory of total spending in the economy (called aggregate demand) and its effects on output and inflation. Although the term has been used (and abused) to describe many things over the years, six principal tenets seem central to Keynesianism. The first three describe how the economy works."

Ebeling discusses how Keynes' ideas require the destruction of economic liberties in order to be implemented by central planners. He then goes on to discuss how such ideas differ from classical liberal views on human nature and government.

"The Keynesian stimulus theory fails for the simple reason that it is only half a theory. It correctly describes how deficit spending can raise the level of demand in part of the economy, and ignores how government borrowing to finance deficit spending automatically reduces demand elsewhere."

"Renewed interest in fiscal policy has increased the use of quantitative models to evaluate policy. Because of modelling uncertainty, it is essential that policy evaluations be robust to alternative assumptions. We find that models currently being used in practice to evaluate fiscal policy stimulus proposals are not robust."

"In the present article, we'll review Bastiat's original lesson and apply it to modern-day disputes over the possible benefits of destructive events."

"A growing government is contrary to America’s economic interests because the various methods of financing government—taxes, borrowing, and printing money—have harmful effects. This is also true because government spending by its very nature is often economically destructive, regardless of how it is financed."

"This paper discusses the reemergence of Keynesian economics during the past decade. It highlights the substantial differences between new Keynesian economics and the convictions of early Keynesians. In particular, it points out that new Keynesians have adopted many views that were once considered 'monetarist' or 'classical.'"

Can deliberate government spending activities have a continuing net positive impact on economic activity? Do federal spending programs designed to offset a recession’s negative effects really add a net positive nudge to GDP growth? Can government purposefully and successfully stimulate ongoing employment growth?

Henderson explains the economic components that led to the booming postwar years and declares that times of prosperity like that can be achieved by "dramatically reducing government spending and deregulating an economy."

Tax cuts can deepen a recession if the short-term nominal interest rate is zero, according to a standard New Keynesian business cycle model. An example of a contractionary tax cut is a reduction in taxes on wages. This tax cut deepens a recession because it increases deflationary pressures.

"When conventional economic wisdom repeatedly fails, it becomes necessary to revisit that conventional wisdom. Government spending fails to stimulate economic growth because every dollar Congress 'injects' into the economy must first be taxed or borrowed out of the economy."


"Greg Mankiw of Harvard University and Greg Mankiw's Blog talks about the state of modern macroeconomics and Keynes vs. the Chicago School. He defends his proposal to raise gasoline taxes and discusses the politics of tax policy."

"Ricardo Reis of Columbia University talks with EconTalk host Russ Roberts about Keynesian economics in the classroom and in research. Reis argues that Keynesian models are a useful framework for helping undergraduates understand macroeconomic ideas of general equilibrium. More generally, Reis argues, Keynesian ideas remain influential in macroeconomic research,...

"Steve Fazzari, of Washington University in St. Louis, talks with EconTalk host Russ Roberts about Keynesian economics. Fazzari talks about the paradox of thrift, makes the case for a government stimulus plan, and weighs the empirical evidence for a Keynesian worldview."

" is a place to learn about the economic way of thinking through the eyes of creative director John Papola and creative economist Russ Roberts.

In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the...

The video discusses the battle over economic philosophy and policy prescriptions throughout the 20th century, especially focusing on the ideas of Hayek, Keynes, and Marx.

"Richard Epstein and John Taylor reflect on the global economic crisis of 2008 and discuss why the Keynesian narrative of events fails to identify and explain the causes at the root of the crisis. Epstein and Taylor evaluate the government responses to the crisis, assessing the effectiveness of TARP and President Obama's stimulus legislation. Finally, Epstein and...

"'Fight of the Century' is the new economics hip-hop music video by John Papola and Russ Roberts at"

"Mr. Skidelsky talked about his book John Maynard Keynes: Fighting for Freedom, 1937-1946 published by Viking. The book examines Keynes's economic theories and his impact on British efforts to win World War II and his lasting influence on post-war politics." Skidelsky gives a fascinating account of Keynes' life and also discusses the difference between the...

In this video, economist John Maynard Keynes predicts that the British suspension of the Gold Standard will have positive results for the economy.

BBC Radio 4 will be recording a debate between modern day followers of Keynes and Hayek.

"Based on a theory known as Keynesianism, politicians are resuscitating the notion that more government spending can stimulate an economy. This mini-documentary produced by the Center for Freedom and Prosperity Foundation examines both theory and evidence and finds that allowing politicians to spend more money is not a recipe for better economic performance."

Kenneth Rogoff advocates for some more inflation to curb the effects of the recession and get back onto the path toward economic growth.

"Roger Garrison spoke to students attending Advanced Austrian Economics about macroeconomics and differing approaches of John Maynard Keynes and F.A. Hayek."

"So Krugman says wars are good for the economy? I guess wars are only good if we are fighting UFO's from the 'Twilight Zone' and a liberal is Commander in Chief."

"Robert Skidelsky and Nicholas Phillipson discuss how the philosophies of Keynes and Smith helped shape their influential economic ideas and examine how each has influenced social and political change."

Primary Document

"Concluding his most important book with those words in 1935, John Maynard Keynes was confident that he had laid down a philosophy that would move and change men's affairs. Today, some 20 years after his death, his theories are a prime influence on the world's free economies, especially on America's, the richest and most expansionist. In Washington the men who...

"In this book, Hayek provides an incisive critique of this fallacy in its Keynesian form and demonstrates the dire consequences of pursuing policies based on it. But the book contains much more than a critique of fallacious theories and policies: it holds the recipe for a solid and steady recovery from our current depression (and yes, always the straight-talker,...

Robinson was a follower of Keynes. In this book she discusses Marxism:

"But though Marx is more sympathetic, in many ways, to a modern mind, than the orthodox economists, there is no need to turn him, as many seek to do, into an inspired prophet. He regarded himself as a serious thinker, and it is as a serious thinker that I have...

"Vol. 8 of The Collected Works. Democracy in Deficit is one of the early comprehensive attempts to apply the basic principles of public-choice analysis to macroeconomic theory and policy. The book serves to bolster Buchanan’s central beliefs in the necessity of a balanced-budget amendment to the U.S. Constitution and in monetary rules rather than central...

"John Maynard Keynes, the man—his character, his writings, and his actions throughout life—was composed of three guiding and interacting elements. The first was his overweening egotism, which assured him that he could handle all intellectual problems quickly and accurately and led him to scorn any general principles that might curb his unbridled ego. The second was...

Essay embedded below.

About this volume of Hayek's collected works:

In 1931, when the young F. A. Hayek challenged the economic theories of John Maynard Keynes, sixteen years his senior, and one of the world's leading economists, he sparked a spirited debate that would influence economic policy in democratic countries for decades....

"John Maynard Keynes, late economic adviser to the British Government, is the new prophet of inflationism. The 'Keynesian Revolution' consisted in the fact that he openly espoused the doctrines of Silvio Gesell. As the foremost of the British Gesellians, Lord Keynes adopted also the peculiar messianic jargon of inflationist literature and introduced it into...

Hazlitt edited this 1960 volume of early reactions to Keynes at a time when most economists were devout Keynesians. For the most part, this book is a collection of writings by Keynes' earliest critics.

"The writer of this book was temporarily attached to the British Treasury during the war and was their official representative at the Paris Peace Conference up to June 7, 1919; he also sat as deputy for the Chancellor of the Exchequer on the Supreme Economic Council. He resigned from these positions when it became evident that hope could no longer be entertained of...

"This essay, which was published as a pamphlet by the Hogarth Press in July 1926, was based on the Sidney Ball Lecture given by Keynes at Oxford in November 1924 and on a lecture given by him at the University of Berlin in June 1926.

This essay is worth reading for especially two reasons. First of all, for the wealth of historical information about the origin of the laissez-faire...

In this famous book, Hazlitt tackles Keynes' General Theory piece by piece.

"Yet about the General Theory there is a strange paradox. The Keynesian literature has perhaps grown to hundreds of books and thousands of articles. There are books wholly devoted to expounding the General Theory in simpler and more intelligible terms. But on the critical side there is a great dearth. The non-Keynesians and anti-Keynesians have contented themselves...

I have called this book the General Theory of Employment, Interest and Money, placing the emphasis on the prefix general.

"'A camel,' it has been said, 'is a horse designed by a committee.' This might sound like a telling example of the terrible deficiencies of committee decisions, but it is really much too mild an indictment. A camel may not have the speed of a horse, but it is a very useful and harmonious animal—well coordinated to travel long distances without food and water. A...

"W.H. Hutt’s Theory of Idle Resources was first published in 1939, surely one of the earliest responses to Keynes’s General Theory.

Hutt goes for the heart of Keynes’s prescription for recovery, which was to get idle resources moving, whether that is money, capital, or labor. If something isn’t being employed right now, it is being wasted.

Hutt responded at length that there is...