-
I would say that I'm a minarchist. I realise the problems in having a minimal state (in keeping it minimal) and also with raising funds through coercive taxation but I consider it the lesser of two evils when I compare with anarchism which will (in my opinion) lack a universally and equally applicable judicial system. People must have their property
-
I like the idea of the EU being a large free trade zone with unrestricted movement of labour and capital. But in practice, most member countries regulate and restrict both of these. Pretty much everything the EU gets up to I am against. I would like the whole EU to be scrapped and started again purely as a free trade zone.
-
I always used to believe that you had capitalism on the one hand in which the means of production were all privately owned and socialism on the other in which the means of production are all publicly owned and in between you had a graduated progression between one and the other. However, after reading the first part of chapter 15 of Human Action ("The
-
[quote user="Nathyn"]Another thing to consider is rational expectations. If people expect that government expansion of the money supply is going to cause inflation, they will pull their money out of banks and put it into tangible assets, like gold, thus effectively destroying money equal to the amount of money created. And then there's
-
[quote user="Don Roberto"] [quote user="Nathyn"]Exactly how does inflation generate revenue?[/quote] Since it takes time for the new money to spread around the economy it gives an advantage to those who get it first. The burst of fresh money changes the relative amounts held by different individuals. As the prices change thanks to
-
Hi, I am a computer software developer living in Devon, England. I have no formal economics education. I am just someone who has developed a passing interest in economics and in particular the Austrian School. I simply want to learn all about it!