Section 4 of Chapter 15 of Mises’s Human Action is called “The Sovereignty of the Consumers.” Mises talks about the unhampered market economy and how that democracy, in which “every penny gives a right to cast a ballot,” might be more democratic than any government could ever hope to be. This passage got me thinking about these concepts, and how the state impedes them.
Tag: fiat money
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Bad Banks and Skyscrapers
(Also available on Bitchute)
Doug French wrote an article last week called “Bank CEOs Have Their Heads in the Clouds” and he talks about how all of the bank CEOs are very optimistic, but he notes that their real estate agents are optimistic, and so are their loan officers.
A recent article at the Mises Institute got me thinking about the concept of “passive investments.” The article was written by Daniel Moule, and is called “Taxing Capital Leads to Capital Consumption.” Setting aside the general argument Moule is trying to make, I find his concept of “passive investment” to be a possible source of confusion.
Paul “the Internet is not a big deal” Krugman has stated that it’s paranoid to worry about Central Bank Digital Currencies. See the article at this link.
Considering his track record, did he not realize that his statement makes it more likely that concern is justified?
A video version of part 1 (of 3) of my short essay series on money.
For the text version with links and citations, visit here.
It’s just a little article on the history of money, but I managed to get something published on the Mises Wire!
The article is “The Rise and Fall of Good Money: A Tale of the Market and the State.”
It was originally a part of a longer essay I wrote that had to be split up to fit into the Mises Wire length requirements. I’ll put up the other two parts in separate posts:
What Makes Good Money? A Misesian Perspective
This piece goes through the first half of Mises’s Theory of Money and Credit and pulls out the qualities Mises thought were necessary for things to serve well as money.
Why Cryptocurrency Is (Still) Interesting
This one looks at cryptocurrency from the same Misesian standards and evaluates it as a potential money. Then it discusses the upcoming shift that state monetary systems are making towards Central Bank Digital Currencies and evaluates that as well.
Cryptocurrency is a contentious topic even among die-hard anarchists. Fans of gold argue that a return to the gold standard is key. Others argue that crypto has no commodity value and is therefore worthless. Crypto enthusiasts argue about which particular coin or coins are best, and even adherents to a single coin’s philosophy disagree about how its transactions should be handled.