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I never understood the fascination of Socialists with getting rid of money.
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This is classic, An example of a major problem: even under capitalism, natural disasters generate tremendous volunteer effort and people donate huge amounts of goods, services, and money to help those who are suffering. It is not conceivable that this human response will decrease in socialism. Without the profit constraints of capitalism, such major
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What software did you use?
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[quote user="Stephen"] Not necessarily. It's possible to have a free market and a retrogressing economy . Only in a progressing economy do the prices of consumer goods fall over time. [/quote] Very true.
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Rothbard's Man, Economy and State is a great place to learn about everything economic.
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Generally, yes. Through increased capital and technological improvements supply usually increases over time. In conjunction with free market money like gold or silver whose supply remains relatively constant the overall price level decreases. All of this happens ceteris paribus of course with many factors that could disrupt this whole process.
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B.S. in Economics from Arizona State.
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An inflationary period IS an increase of the money supply. I think you might be thinking of the monetarist view of increasing the money supply to avoid recession. The recession in ABCT is the correction for the previous expansion of the money supply that created malinvestment and a misallocation of resources. As far as the historical question goes I
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[quote user="ViennaSausage"] What are the components of a Free Market? For example, no government subsidies, no mandated monopoly laws, no entry to market laws (or exist laws for that matter) [/quote] All interactions between actors are voluntary and when they are not the aggressor is made to pay retribution.
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Even in a free market wouldn't interest rates be fundamentally unpredictable since the future is uncertain. Couldn't the arguement be made that a controlled interest rate would be less unpredictable.