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Showing posts from December, 2013

The Cure

This is the time of year when people make wishes.They beseech mankind to end war, eliminate poverty, and cure dangerous diseases.Almost no one does anything beyond making the wish or writing a check to some charity, but even that little bit makes them feel better.
If I were to make a wish, I would wish for people to re-examine their state indoctrination — or as Ayn Rand used to put it, to check their premises.  War, poverty, and dangerous diseases can be overcome, and the means to their cure is right in front of us, which is why most people don’t see it.  Most people think the means to the cure is more and better government programs.  It is not more and better government programs.
What is the means?  Freedom.
Turn loose the ultimate resource, as Julian Simon termed it.  Let human ingenuity flourish.  Get the state out of our lives.  Get rid of the government bureaucracies that drain our wealth and sap our energy.  Get rid of the income tax, the federal reserve, get rid of the spooks and…

Has the Fed made the world a safer place?

With the 100th anniversary of the Federal Reserve Act approaching libertarians will mark its passage as one of the darkest moments in U.S. history.At least, Rothbardian libertarians will.And what does this say about the rest of the population, most of whom couldn’t care less about monetary matters or what happened a century ago?It says the state’s indoctrination efforts have been hugely successful.
Since the victors in monetary matters are obviously not the Rothbardians, I decided to chat with someone from the winning side to try to improve my understanding of their position.  I managed to secure an interview with the author of the monetary classic, The Glorious Federal Reserve: How the Printing Press Has Saved Our Collective Hides.  Since his book is published under the pseudonym Jolly Roger, I refer to him by his pseudo-initials JR in what follows.
Me: What was wrong with the gold coin standard we had used for much of the 19th century and early 20th century?
JR: It was deeply flawed. …