Aikouka
Lifer
- Nov 27, 2001
- 30,383
- 912
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obligatory penn & teller bullshit episode reference
Beat you to it.
obligatory penn & teller bullshit episode reference
Well, the free market could handle it. Yes, I will always believe in free market money, although I believe that if government has to exist, then yes the national government should be limited to collecting revenues in gold from the states based upon their population.
I should note that we haven't had a true gold standard since 1913 and that the problem with the true hard money standard started by Jackson was inadequate laws against fraud in some states and laws that subsidized or contributed to fraud in some states. LA prospered during the Free banking era, because they mandated high specie reserve requirements. LA was controlled by hard money men. In contrast to LA which didn't feel the need to mandate low reserve ratios (in part because they kept public expenditures low), IL did not do so well because the state mandated low reserve requirements in the hopes that it could build public railroads. IL went bankrupt trying to do so. IL was controlled mostly by Henry Clay National Socialists (well, other than Stephen A Douglas).
Doesn't matter. Nothings perfect, but it's the most ethical.Go take a basic econ course and ask the teacher/professor what an externality is. Then you might start to understand that there are some instances where the free market system will not work well.
