David Hume emphasized that commerce and trade were among the most important avenues to offer opportunities to raise people’s standards of living, and to bring refinement and cultural betterment to a growing portion of a nation’s population.
Tag: history
Monetary System: Currency vs. Money, & Hyperinflation
Natural currency is that which is chosen by free and peaceful people to interact in. It is chosen because it has been demonstrated to be of superior value as compared with currencies of the past. The value of currency is its ability to lubricate transactions and facilitate trade. When it no longer effectively serves this function it must and will be summarily abandoned and replaced with a better alternative.
Why We Need Less Politics and More Private Governance
We’ve lived through another election season, and this year, as with every years, the candidates competed to tell us about all the ways they were going to use the power of government to make our lives better. Unfortunately, many voters appeared quite sympathetic to the idea that government action can improve living standards and generally make markets work better. That’s the bad news. But, there are also trends at work right now that are bigger than any single election cycle, and while the candidates this year provided little reason for optimism, the voters themselves may be growing skeptical of just how much the government can solve all their problems. Nevertheless, one of the most important things we can do is really explain and understand how markets, and not government intervention, are our best hope for an orderly and prosperous society.
Words Poorly Used #72: Oligarchy
I got in trouble last month for using the term “oligarchy” in, admittedly, a pejorative sense. Here’s what I wrote on Facebook: “No matter how one votes tomorrow, the winner will be oligarchy A or oligarchy B (where A = B).” Very good friends called me to task for this logic fallacy, justifiably so since I had committed several logic fallacies, the worst of which was the fallacy of begging the question. My premises assumed their own truth without establishment. Is the USA really run by an oligarchy?
Ideology, Identity Politics, and Politico-Cultural Conflict
The past year’s political events, especially the campaign for the presidency as it converged on a contest between Hillary Clinton and Donald Trump, have illuminated the way in which ideology, with the identity politics that springs from it, drives a dialectical process: political domination creates resentment, which feeds reaction and, on occasion, revolution against a previously entrenched ruling class and its belief system.
The Extraordinarily High Burden of Proof for Violating Liberty
There are excellent observations and reasons for a presumption in favor of equal liberty for all – which led me to “therefore I am libertarian.”It is true that the libertarian political philosophy I have grown to believe greatly influences my policy analyses. However, it is not merely an opinion, no different in credibility than any other opinion held for any reason.
Arguing for Voluntary Slavery
The libertarian view of “voluntary slavery” or “slave contracts” is mixed. There seems to be a great divide among the academics, such as Walter Block on one side and Murray Rothbard, et al. on the other.
Property and Ownership
To claim ownership of your body implies independent agency and liberty. It also implies that you have a right to exclude others from possessing, using, or controlling your body. In other words, your body is your property.
Reflections from Traveling Around the World
I recently got back from an epic trip around the world. It was by means of traveling east, first to Virginia and New York City, then to India (New Delhi, Agra, Jaipur and Dharmsala), then to Macau and Hong Kong, followed by Tonga and New Zealand, and finishing up in California and Oregon before heading back home to Minneapolis where the trip all began.
Handwriting On The Wall
This famous phrase refers to a story told in Daniel 5:1-30. The actual phrase was “mene, mene, tekel, parsin” – all three of those words referring to units of currency.