Tuesday, February 21, 2017

How could Mises believe in any government monetary standard?

Mises: In the next issue of The Austrian, David Gordon reviews Sebatian Mallaby's new book, The Man Who Knew, about the career of Alan Greenspan. Mallaby points out that prior to his career at the Fed, Greenspan exhibited a keen understanding of the gold standard and how free markets work. In spite of this contradiction, Mallaby takes a rather benign view toward Greenspan. 

Once you apply the term 'gold standard' to monopoly government money, then you have already become socialist, a term Mises applied to his fellow economists. 

In a libertarian philosophy, government as wide freedom as long a proportional voting exists.  Government is free yo create all the moneys they want, but absent proportional voting, government will eventually default.

Libertarians believe that democratic government and individuals can create all the moneys they want, and the new technology allows just that.

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