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What we need are institutions that are neither statist nor capitalist. Both of these involve hierarchy, subordination, and the centralization of power and decision-making authority in the hands of a small few; which is then wielded against the many....
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One free market/libertarian answer to unemployment and poverty is lowering the minimum wage. My question is, how the heck are people supposed to live off a lower minimum wage? The minimum wage is already pretty low, if we lower it to say 3-4 dollars an...
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My comments in bold. [BTW, here is a fine article that elaborates on the relevant ideas: http://mises.org/rothbard/protectionism.asp ] The Chinese lend us money because they have to. As he will explain, I imagine. They buy dollars to make our currency...