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[quote user="Jonathan M. F. Catalán"] [quote user="Judicator"] Even under the regular system of fractional reserve banking you don't create anything "out of nothing." [/quote] They actually do. Let's say that producer A sells an automobile for $1,000. The $1,000 in $_currency represents the automobile. In
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[quote user="Spideynw"] [quote user="Judicator"]Monopolists[/quote] Monopolists do not exist in a free market. [quote user="Judicator"]Monopolists maximize profit by reducing quantity below the social optimum and selling at a higher price.[/quote] You are correct. Which is why monopolies should not be allowed to exist.
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[quote user="Fried Egg"]What is the libertarian response to this? I would argue that a true value free perspective could not conclude common ownership by default. Only if the alien had any concept of what ought to be could he have any notion of who initiated force.[/quote] A true value perspective would remain agnostic on the question of property
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And low transaction costs. If the cost of suing exceeds the cost of the externality, nobody sues and the externality persists. Same idea with property rights; if the cost of negotiation exceeds the benefit of the transaction, no transaction.
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[quote user="Knight_of_BAAWA"] [quote user="Judicator"]I guess you're going to run into this problem a lot if you a priori reject the idea that problems can be caused by anyone but governments.[/quote] 1. Please learn what a priori actually means. 2. Please don't create strawmen. [/quote] 1) before experience 2) im not the
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So "little one" would be an ad hom attack. So would the thing about the state school A. Again I guess we're beyond arguing and onto word games and insults.
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I guess you're going to run into this problem a lot if you a priori reject the idea that problems can be caused by anyone but governments.
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If savings are big enough to knock down the interest rate that will kick up asset prices, although I wouldn't call that a bubble since that's a totally rational response to lower interest rates. You get a bubble when people think asset prices will keep going up by leaps and bounds forever, although in theory this should raise interest rates
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Oh god our government spending money what a shock.
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Wow so you just look at the inflation numbers and you can see how much of the rally is inflation and how much isn't. I checked and actually there was 10% inflation just yesterday oh yeah that explains AIG's price perfectly.