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Ahh, I see. It makes sense to me now. I had to read the sentence over a few times in juxtaposition with your explanation. Thanks all.
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Hi folks, I have been consistently perplexed by the use of the term "capital." I understand what a capital good is, but the word "capital" used alone seems to have a slightly different meaning. I thought that I finally had my answer when I read Robert P. Murphy's definition of capital in "Study Guide to Human Action: a Treatise
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Alright, that was a good round of responses. I'll try to summarize the points which currently make partial sense to me: -USA Legal tender policies prohibit contracts which require either of the parties to surrender gold -USA monetary tokens have an officially enshrined "legal tender status," which apparently means that all individuals
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Why do individuals accept and use USA monetary tokens as money in their everyday lives? Why isn't gold or another real substance used? Does the USA actually prohibit the exchange of labor and other goods for gold and silver, and if not, why don't we see such exchanges occurring? Thanks. Egon
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Yes, I'm sorry, the BUS means the Bank of the United States. And although I am informed that it was mostly the pet idea of Alexander Hamilton, George Washington was indeed the President of the Union and he did sign the bank bill into law. Alexander didn't "do" anything; he was just the originator of the proposal for the Bank and its
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No2statism, What did you find to be terribly oppressive about the suppression of the Whiskey Rebellion? My biggest beef with GW is the BUS, but I don't even think he should be on the list.
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Hi folks, Maybe this has already been answered, but can anyone produce the actual full text of the bill as it currently exists? Thanks. Egon
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Can any serious student of history tell me what the official name of Connecticut was from 4 July 1776 AD until 1818 AD? It has been made clear to me that upon its creation in 1776, the state of Connecticut actually kept its old English colonial charter as its constitution and didn't adopt a new constitution until 1818 AD. A copy of the 1662 Connecticut
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Sweet, man. That's exactly the kind of no-nonsese, clearly-stated, example-intensive instruction I'm looking for. I know for a fact that Murray N. Rothbard explained the exact same terms (APP, TPP, MPP) in probably the same way, but I must have found his wording confusing.
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I'm stumbling at the outset of my introductory study of Austrian economic theory. So far I have viewed a lecture or two and read most of the first volume of Man, Economy, and State, but most of it simply doesn't make sense. I've recently started over with the Human Action study guide by Robert P. Murphy. Right now I'm on chapter 7 on