Zimbabwe’s hyperinflation problems are the stuff of economic legend. No matter how bad our inflation problem gets here, one can bet theirs will be a lot worse. Just last week, CNBC had a headline still beyond comprehension for most Americans:
Zimbabwe hikes key interest rate to 200% from 80% amid runaway inflation
To clarify, it does not say 200 basis points (i.e., 2%), rather 200 percent!
A maybe somewhat neglected aspect of libertarian theory as understood by Ludwig von Mises is the theory of internal peace in a society and how it can shed light on how to deal with cases of controversial legislation about individual liberties and other issues.
In “Nations by Consent,” Murray Rothbard explains that because libertarians tend to view the world through either the lens of the state or of the individual, they miss out on one of the most important aspects of the real world: the nation. Due to the common use of the terms nation and state interchangeably, we often forget what a nation really is. Rothbard reminds us, however, that
Many are dismayed that the American military and intelligence complex has gone woke.
There already exists literature dealing with common objections to anarcho-capitalism (a society with private ownership of everything) such as who will build the roads, how security and national defense would be produced, etc. (see specially the works of Hans-Hermann Hoppe on security/defense and Walter Block on privatization of everything).
