Mises Community

Here is another chart, which seems to show the data in a slightly different way:

http://botc.tcf.org/2011/10/graph-of-the-day-an-occupy-wall-street-primer.html

I agree that you cannot simply eliminate the federal reserve or the legal tender standard. Historical precedent shows why not. In short, if you de-monetize dollars, then everyone holding dollars suddenly goes broke.   In order to transition without a major economic catastrophe, steps must be taken in a logical order such that the money supply [...]

Well, I’d say that list is definitely not good from an austrian viewpoint. I can name a few, but you’ll have to do your own research to find somewhere most applicable to you. I have not yet found a single country that isn’t host to some form of group-think based stupidity, but some are less [...]

In a free society all individuals, including children, would be able to perform mutually beneficial transactions of just about any type.  Understand the critical part here is MUTUALLY BENEFICIAL.  Your premise is that the minor in this case would be able to find a supplier.  The reality is completely opposite.  In a world without violence, [...]

I’m going to nit pick a bit, the free market is really only a term for a market that is free of government intervention.  Such a sphere of commerce naturally does not allow or disallow the selling of illegal drugs.  It’s in no place to do so.  The state or society (which, I must hasten to [...]

Roman, I think it is also important to think of this fact: Today, if a child so desired, and knew who to contact, could theoretically purchase any drug they wanted to, from a black market dealer. I would be willing to wager that it is already happening.  Now, that is not to say that they [...]

Hello Roman,   From what I’ve read about this problem, one important thing that needs to be settled before an answer can be given is when a child is “free” to choose on its own.   I think that Rothbard argued that a child is considered an independent, free being when he can provide for [...]

It is a minor issue. Many proponents of the Austrian School prefer full reserve banking in order to avoid the adverse effects of monetary unit expansion. There is not prerequisite of full reserve banking for a market to operate in a functional sense. Fractional reserve banking can offer benefits such as a greater rate of return [...]

Good point on the marginalization of skill sets due to increased technology.  It is unfortunate when people lose their job due to this but this is a natural outcome of increased productivity.  It does not mean they can’t do anything now, but they need to find a new place in the economy.  When productivity increases, [...]

Hello Gavin,   And thank you for your feedback. I am sorry to see that no one else is chiming in, but I guess it’s just you and me who are interested in “walking the walk”.   “* Utilizing special purpose legal vehicles for your income.  I like this.  I’d love to know more [...]

The biggest problem I have with charts that shows income “growth” allocation over a 30 year period of time is that for it to have any meaning you would have to assume that everyone remained in the same income groups during that time. When you read the subtext on the chart, they imply that there [...]