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To add to Nock's explanation of increasing state power corresponding with decreasing social power, consider that with the increase of state power (and state welfare programs) more people tend to view their tax payment as charity, in a sense of "why should I donate time or money when I already paid taxes to provide for food stamps, WIC, Medicaid
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Tesla came to have annual press conferences each year on his birthday near the end of his life. He said on several occasions that he disagreed with Einstein's theory in regards to gravitation. He stated that he had a "Dynamic Theory of Gravity" that he would release. He passed a few years later. Of course, his apartment and labs were raided
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I can't remember where, but I read that, based upon the going rate to purchase a slave's freedom and the amount of money spent (debt incurred) by the North to fund the war, the North could have instead spared the death and destruction by simply purchasing all the slaves' freedom. These are, no doubt, based upon estimates, but it is one argument
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In the way SOME people become over-aggressive when using alcohol, SOME people become non-aggressive while using cannabis. However, neither is a rule. But from my experience, people using cannabis are quite peaceful, and even usually more polite than normal, especially in contrast to the opposite happening when people use alcohol.
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Are they exactly economically equivalent? In the case of a counterfeiter, he expends negligible capital and labor to produce something that is perceived to have value (negligible due to the fact that he can print as many dollars as he wishes). Therefore, he trades the counterfeits for things that did require an appreciable amount of capital and labor
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First, I wouldn't say that a gold bug spending his goldbug is no different than counterfeiting. Counterfeiting is illegitimate; acquiring gold prior to the collapse of a currency is not. Similarly, someone who mines gold is not on the same level as a counterfeiter. Although they do spend their gold into the market, they used capital and labor to
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I'd say, given the numbers you use, then yes, there would be inflation. However, this is not a result of going to a gold standard, I don't think. If it were, then the assumption would be that adhering to a fiat currency – with legal tender laws and a monopoly on the creation of said currency granted to the federal reserve, whom would likely
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Reduced consumption – Savings – Innovation – Increases in productivity and production.
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I had said, because of the FDA, patent laws, and the AMA, there is possibly an artificially high demand and artificially low supply, leading to artificially high profit margins.
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I'd guess when we are speaking of a prescription, we are talking about the legal document that a doctors gives that enables one to legally buy, possess, and use a specific medicine, and only in the doctor's specified dosage. I doubt anyone here is using prescription in the sense of "a recommendation."