< HOME  Monday, November 21, 2005

Mises Blog: Libertarian In Name Only

It looks like its official. My comments have been BLOCKED from the Mises Economics Blog!

I was trying to post a comment to Our Money Madness by Lew Rockwell and I received a notice that I was not allowed to post.

So, much for libertarians!

I was right the first time, libertarian is merely a cheap catch phrase on that site.

If you care to read Lew's article, my comment to it would have been:
As glorious as a return to hard currency would be for libertarians, the costs of producing and handling that money would detract from its value to the economy as a whole as the energies and resources expended in maintaining the curreny might be better used elsewhere in the economy. That is one of the reasons it was abandoned, in the first place.

In contrast, in an interest-free economy, the barriers created by hard currency against the abuses of printing too much of it would not be as sorely needed as it is in today's interest-ridden economy. A uniform paper money could be printed as needed in each state at the local level, where abuses can be more easily contained, and money production in all the states can be coordinated and adjusted at the federal level to ensure balanced economic growth. Because money is interest-free, accounting and economic analysis is much simpler than if it was encumbered with interest.

Now, I'm not an economist. But, it seems to me that the wild fluctuations in the value of our money throughout our nation's history is not just the result of printing too much of it, but also the consequence of the unbridled use of interest at every turn.

If you believe in the freedom to exchange ideas and you have a moment, let the guys at Mises know that it's neither nice, nor consistent with liberty, to suppress opinions just because you don't agree with them!



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