The Prescription for Prosperity

Embedded in a recent Lew Rockwell speech is a pretty credible prescription for economic prosperity.

"...The beauty and glory of economic science is that it consists in a series of laws and principles that do not change according to time and place. The prescription for prosperity and stability and human economic flourishing is always and everywhere the same: freedom of association, freedom of contract, freedom of enterprise, freedom to trade across borders without penalty, sound money that is redeemable in something besides paper, private property rights, wages and prices that adjust by market conditions, and a legal structure that shores up these institutions rather than undermines them...."

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The big problem I have with

The big problem I have with commodity money is one of pure physics: precious metals are too damned soft. The coinage has far too much of a habit of wearing away below its once true value.

If commodity money is to be used, it must be some hard metal.

Once let the black man get

Once let the black man get upon his person the brass letters, 'U.S.'; let him get an eagle on his button, and a musket on his shoulder and bullets in his pocket, and there is not power on earth that can deny that he had earned the rights to citizenship in the United States. - Frederick Douglass

Brian Moore, The CSA enacted

Brian Moore,

The CSA enacted a draft first, it too carried out a scorched earth policy (even in Confederate states), it saw a great centralization of power (when Jefferson Davis could muster it), freedom of speech and the like were always under attack in the South (try sending abolitionist literature through the postal service in the South or having an abolitionist rally in the South), etc., and it didn't even take any remotely positive steps towards emancipation until the last weeks of the war when Lee pressed for slave volunteers who would be freed at the end of service. Of course, by that time, over 200,000 of the South's slaves were wearing the Union blue.

There is a lot of romantic B.S. told about the Confederacy.

"It seems like most of the

"It seems like most of the people who write for lewrockwell.com are obsessed with evil neocon conspiracy theories and are basically a bunch of useless moonbats."

Yeah, that is what turns me off. I dislike Bush a great deal, but I try to be fairer than Rockwell. Some of the "conspiracy theories" do reek of left-wing craziness.

"And their neo-Confederate affinities are fairly troublesome. "

On the other hand, I don't think they are "neo-Confederates." I think they are merely against the bad things Lincoln did (scorched earth policy against other Americans, a harsh draft, great centralization of power, dismissal of freedom of speech and other parts of the Constitution) and for what they consider to be the defining aspect of the Confederacy: federalism and the right of secession. In no way shape or form can their support for that one feature of the Confederacy be considered "neo-Confederate" or "pro-slavery."

Alex, And their

Alex,

And their neo-Confederate affinities are fairly troublesome.

Are you talking about the

Are you talking about the web site or the man?

The web site - I can't recall the last time I was forwarded a Lew Rockwell article that was actually written by him. Now that's I'm going back and reading the full speech that's linked to here, it's actually pretty damn good (though refresh my memory, what did George W. Bush have to do with the Martha Stewart trial?). It seems like most of the people who write for lewrockwell.com are obsessed with evil neocon conspiracy theories and are basically a bunch of useless moonbats.

Wow, a rare moment of

Wow, a rare moment of rational, well-considered thought in a Lew Rockwell article

Are you talking about the web site or the man? He's been a bit too cozy with the radical left since the Republicans took over in Washington, and his web site shows it, but I've found his own essays to be consistently excellent. IMO, he's the finest political writer alive today.

One thing, though - I don’t get why so many libertarian types are so hung up on commodity money.

Mainly because we don't trust anyone that much. Fiat money is preferable to commodity money in every way but one: There's no reliable way to restrict the supply.

Wow, a rare moment of

Wow, a rare moment of rational, well-considered thought in a Lew Rockwell article... :lol:

I'm with you, Brian - I've gotten in the habit of telling people, when the occasion allows, that there are few, if any, problems in life that can't be solved using economics.

One thing, though - I don't get why so many libertarian types are so hung up on commodity money. Money is basically a symbol, a counter, a transferable IOU. Maybe I would understand if I had studied economics at the graduate level (which I hope to do someday, if I am someday able to afford it), but it seems to me that, if we can count on mutually-agreed-upon property rights and contracts to work, why not mutually-agreed-upon fiat money? None of the above are built on anything but agreements between people...

I agree completely. People

I agree completely. People call economics the "dismal science."

I think it's most beautiful science. It describes the ways in which humanity can take that which is, and make it something that is more. It doesn't get any better than that.

...

I am a really big nerd.

To: Hus I agree -- the

To: Hus

I agree -- the Confederacy was bad as well, and I think Rockwell would agree. His primary point on that topic would be that the Civil War was fought over whether or not states could secede from the Union, and that regarding that view, he believes the Confederacy was right and the Union wrong.

Just as someone can argue that the United States invading Iraq was wrong without the Iraqi government being "good" (as Rockwell does), so can he argue that the Union invading the Confederacy was wrong without the Confederate government being "good".

The sins of Lincoln do not justify the sins of the South, and vice versa.

Rockwell's site is where I

Rockwell's site is where I first learned my libertariansism! Lay off it a bit fellas.. Besides, taking aside much of that said above, I would strongly recommend some of you to actually read a few days articles from LRC, maybe you'll realize they are quite eloguent and logical often enough.