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Are Wall Streeters a pack of blood sucking scum, or do they provide a needed service that enables business investment and industrial progress? Well, both. Look at the clowns who help destroy the economy and then expect bailouts - complete parasites. On the other hand, investment managers provide an essential service - connecting people with savings
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[quote user="BobT"] I had a class called "global financial markets" taught by a current employee at the Federal Reserve. Do I win? [/quote] Nope, you tie with me, except my class was called "Monetary Economics and the Global Economy." Nonsense from start to finish, but still good to know why Keynesians think what they do
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1. Who knows exactly what would happen? Most likely the US government would not stand for it, and if they didn't storm in to use violence to force the town to rejoin the union, they would blockade the town until they gave in and rejoined. The politicians would most likely say that secession is unacceptable because solidarity and unity are important
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Sorry, that was a typo. I meant to say "due to the danger AND costs associated with doing this..." But there are a few problems with your objection. First of all, if we get to the point where we are actually living in a society free of government, it's probably likely that much more than 1-2% of people will have come to the conclusion
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I think that the non-aggression principle is an objective and universal concept that almost everybody understands when they talk about their own actions toward others. From my perspective, this is the biggest reason for not having a monopoly on the legal system. Without a government, people become responsible for their actions, and there is no vague
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Punishing principals for the incompetence of teachers is probably a good idea, but I think the best system of incentives is impossible for any one person to foresee. That is why, if schools were privatized, different schools would try different incentive structures and the best one would be likely to emerge. Think about a school as another business
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You can think about it this way: In order for me to purchase the services of any given "competing government," I have to be adequately convinced that this government will provide me with sufficient security for the price I'm paying. My goal is to be able to live my life without having to worry about somebody harming me or my property,
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Hey Rabble, It seems like you took a very simlar route to mine. When I was first exposed to Friedman and his ideas I was blown away. That is, until I got into Austrian economics. I think that while Friedman is relatively good at introducing the layman to the ideas of freedom, the Austrian school is leagues better in terms of actually explaining economic
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Thanks for all of your responses. I do feel like I’m in a bit over my head here. I haven’t studied ethics or philosophy much. Most of what I understand about natural rights comes from reading Aristotle and the underlying ethics of Rothbard’s writings such as Man, Economy, and State. I understand that Mises did use a utilitarian basis
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[quote user="JonBostwick"] Natural rights are based on the idea that human beings are creatures with a specific nature. The system that most accurately recongizes human nature is going to provide the best result. Obviously any system that forces men to act against their nature is not going to be a productive systme. [/quote] I think that you