In many ways, the group has been misnamed. Federalism refers to the system of decentralized government. This group defended states rights — the very essence of federalism — against the Federalists, who would have been more accurately described as Nationalists. Nonetheless, what the so-called Antifederalists predicted would be the results of the Constitution turned out to be true in most every respect.
Expect every government program to fail to achieve its stated aims – domestic and foreign – and you will hit the mark every time.
Presented at the Mises Circle in Manhattan: The Fed and War Finance (16 September 2006, University Club, New York, NY).
If Alabama really wants to convert itself into a haven for prosperity and worker well-being, it would — as a start — repeal any and all wage legislation, and nullify all federal legislation when it is proposed.
Further, the idea that the quantity of money is important to trade is incorrect. The market does not desire a certain quantity of money.
The inability of modern philosophers to furnish any kind of argument for the maintenance of a government is a notorious weakness.
With the cumulative effects of inflation, the face values of our coins no longer has any relation to historic commodity value.
Delivered at the Mises Institute on July 6, 2006.
