Category Archives: Economics

The New Law of Righteousness

“The man of the flesh judges it a righteous thing, That some men that are cloathed with the objects of the earth, and so called rich men, whether it be got by right or wrong, should be Magistrates to rule over the poor; and that the poor should be servants nay rather slaves to the […]

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Chomsky On Anarchism

“Predatory capitalism created a complex industrial system and an advanced technology; it permitted a considerable extension of democratic practice and fostered certain liberal values, but within limits that are now being pressed and must be overcome. It is not a fit system for the mid-twentieth century. It is incapable of meeting human needs that can […]

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Government to keep track of $787 Billion?

NYTimes. Honestly?  Truly?  Without bending the truth even a little?  Without even saying, for my own humble example, that 1 million went to infrastructure in, say, New Jersey, when, really, it went to a unfair, over-inflated, non-competitive contract bid?  Impossible. Still, naive as it may sound, at least there is an attempt to be transparent. […]

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Money: gold or fiat.

Balkinization has an enlightening article on money. Gold standard is, conceptually, no different than fiat.  Both are based on perceived value.  Neither have intrinsic value.  If anything, fiat is more utilitarian because it is backed by all of the nation’s goods and services, rather than just one commodity.  Still, the debate is a valid one, […]

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