January 21, 2013 § Leave a comment

Exposing Faux Capitalism

Quarterly Journal of Austrian EconomicsAt a local libertarian gathering this past week, the topic of economics came up, and I said to the surprise of everyone there, “I don’t agree with Austrian economics.”

I started getting into the first reason I list here, and for completeness, here are ten top reasons:

1) I don’t think government has to borrow money into circulation as a debt with interest in order to pay for carrying out its enumerated powers.

2) I see it putting too much focus and blame on government, instead of force and fraud carried out by any individuals or group of individuals, including corporations.

3) The obsession with inflation. Inflation is absolutely necessary under a debt and interest-based monetary system in order to pay the aggregate debt.

4) Making frequent reference to a so-called “gold standard,” as opposed to calling it a free market system of freely competing currencies.

5) Its obsession with…

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