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I'm a bit of a soft-core libertarian, and an economist in particular. A lot of reading and discussion I have read has let me with a number of questions regarding the worshipped "gold standard." 1) Gresham's law states that "bad" easy currency will crowd out "good"...
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Ron, You are quite right about both Rothschild's quote and your statement that Britain does not have a 100% reserve system. Private banks played an extremely important role in financing nations and issuing their currencies in the 19th Century, and the Rothschild's among others profited greatly...
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As far as I can tell, his argument centered around that if prices did not rise (due to inflation), but instead fell (due to deflation), than employers would need to cut wages. This would cause mass unemployment, as workers would be fired. Another argument he had was that there was mass deflation during...
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I was having a look at "What Has Government Done to Our Money" by Rothbard, and got thinking about the problem of hoarding, or increasing one's cash balances. This may be relevant in the current economic climate if people are losing faith in the banking system and yet trying to rebuild...
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The textbook for my Principles of Macroeconomics class, Macroeconomics , 2nd ed. by R. Glenn Hubbard and Anthony Patrick O'Brien, has a section entitled "Money without a Government? The Strange Case of the Iraqi Dinar" (Chapter 13, p. 435 for anyone who is interested) in which the authors...
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> Without government intervention into the economy, can wages rise naturally? < Wages rise naturally after the floor is above subsistence. Disposable income is the key that allows labor to get specialized. As long as the vast majority of consumers have zero disposable income, there can be no healthy...
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Xevec, Whoever it is that you are speaking to here is feeling personally attacked and insulted, which does not lead to a positive environment of mutual pursuit of truth. The author seems to be striving to find points upon which to disagree with you, which is typical of defense. The truth is, I think...
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There's a lot of blame-gaming going on here, and I'd like to set the record straight on who's to blame, because every member of the game has their share of responsibility. The Players: The Federal Reserve, Commercial Banks, Businesses, Consumers, the US government, and various foreign players...
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http://ponziworld.blogspot.com/2008/01/deflation-vs-inflation-vs-both.html While I am new here, and to economics in general, I have started to believe a deflation is coming. Or at the very least there is deflationary pressures on the economy. What I can't find explained anywhere, is a "See Spot...
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Hey everyone, figured I'd contibute a little something to the forum here with my first post... I was just wondering as to what every one else thinks about the fallacious reasons typically given for inflation and why it is that everyone buys into those concepts rather than accepting the logically...