Most of the developed countries have state pension systems that are dependent on annual tax revenues. This system based on false promises and illusions is something that will not last forever. Watch out and read Oskari Juurikkala’s article about Old-age Security Without the State.
Blog
Legal counterfeiting
March 21, 2007Printing money does not increase the amount of products and services available in the market. It only increases the prices in the long term, in the short term it creates an illusion of increased wealth before the slow adjustment of prices catch up.
“The services money renders are conditioned by the height of its purchasing power. Nobody wants to have in his cash holding a definite number of pieces of money or a definite weight of money; he wants to keep a cash holding of a definite amount of purchasing power.”
Ludwig von Mises, Human Action, 3rd rev. ed. (Chicago: Contemporary Books, 1966) p 421.
Read Gary North’s The Official Counterfeiter.
Frank Shostak explains global liquidity and whether there is such a thing: The Yen and Monetary Liquidity
Compulsion – not necessary even in disputes
March 18, 2007We have assumed that there is only one way to solve disputes: commission a government monopoly over all people in case they might have some issues between each other. However, this assumption is not the only way to live – actually we have real life examples around us every day.
Not convinced yet? Read Market Chosen Law by Edward Stringham.
Liberty and protection of the liberty
March 16, 2007Our current societies involve a third party called government that is authorised to incur into any violent actions and force in order to protect its citizens. However just by watching the news it’s nothing new to realise that these powers are also used against the very people who give them to its agent, the state.
A life without a state above its people is possible and here’s an excellent excerpt from Murray N. Rothbard’s The Ethics of Liberty about The Right to Self-defense.
The source of prosperity
March 5, 2007The wealth of any nation is dependent upon its people’s capabilities and resources to invest into new production. Some 50 years ago Ludwig von Mises gave this speech that is maybe even more valid today (and not just to Americans): Capital Supply And American Prosperity.