Since fiat currencies, per se, are not redeemable for anything other than themselves, their very existence depends upon confidence. The issuing authority must not inflate the currency’s size to the point that it begins to lose purchasing power in the market at an abnormal rate. As long as the public is willing to hold the currency, its purchasing power need not depreciate at a noticeable rate.

Conscription is a form of indentured servitude. Murray Rothbard argued that everyone has a natural right to self-defense, but “we have no moral right to use coercion—the bayonet or the revolver—to force someone else to defend us.”

Joseph Stiglitz, et al. Most “mainstream” economists are basically regime technocrats who pose as scholars of economics.  

Patrick Newman is a prominent young American economist and economic historian who has carved out a special place among researchers of economic history. As a faculty member at the University of Tampa, Florida, he has demonstrated a rare command of economic history, archival documents, and historical analyses through his work editing two books by Murray Rothbard, Conceived in Liberty: Volume V and The Progressive Era.

In the slump of a cycle, businesses that were thriving come to experience difficulties or go under. They do so not because of firm-specific entrepreneurial errors but rather in tandem with whole sectors of the economy. People who were wealthy yesterday have become poor today. Factories that were busy yesterday are shut down today, and workers are out of jobs.

““It will help ensure that Argentina’s tax authorities are equipped with the information they need on transactions in crypto-assets...”

You might want to hire someone to paint your house, but the painters need your permission first. For most people, consent precedes action.