Economics

Does Modern Monetary Theory mean we no longer need to pay taxes? (he asks hopefully)

4 Comments / Economics, Humor /

Check out this definition: “Modern Monetary Theory (MMT) is an economic theory that suggests that the government could simply create more money without consequence as it’s the issuer of the currency, according to the Federal Reserve Bank of Richmond.” Which seems to imply that taxation is obsolete, as the second paragraph hints: Excellent. I’m totally in. […]

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Review of Zelmanovitz on the philosophy of money

1 Comment / Economics, Philosophy /

Review of Leonidas Zelmanovitz,The Ontology and Function of Money: The Philosophical Fundamentals of Monetary Institutions Lexington Books, 2015, 447 pp.Reviewed by Stephen HicksFirst published at Law and Liberty, edited by Richard Reinsch and Lauren Weiner. Money is funny, the old saying goes, both in the cognitive puzzles it generates and the motivational extremes of human

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When Adolf joined the Party

2 Comments / Business Ethics, Economics, History /

Adolf Hitler joined the Nazi party after being inspired by Gottfried Feder’s 1919 speech about the new party’s ideals. An indication of those ideals is in Feder’s 1919 publication, Manifesto for the Abolition of Enslavement to Interest on Money. Here’s an excerpt from (Nazi sympathizer) Hadding Scott’s translation of Feder’s manifesto: “The abolition of enslavement

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Data on Socialism [Atlas Intellectuals]

Leave a Comment / Atlas Intellectuals, Economics, Education, Politics, Socialism /

Socialism by the numbers. This unit of the Atlas Intellectuals course provides data on countries that are currently socialistic. The complements the first eleven units of our Socialism course, which cover theoretical and historical aspects of socialism and their implementations. Find the data here. We analyzed and compared 24 countries to each other and the

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Debt responsibilities, student edition

Leave a Comment / Economics, Ethics /

Quick comment on the tweet’s rhetoric: Step 1: Government incentivizes orgy of debt. Step 2: Many semi-responsible people indulge. Step 3: Predictable economic disaster ensues. Step 4: Debtors ask government to wave its magic money wand to disappear their debts. Correction to Step 4: They *demand* the disappearance of the debt. Step 5: Throw in claim that

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Hicks on “Democratic Socialism for Beginners”

Leave a Comment / Atlas Intellectuals, Economics, Education, Philosophy, Politics /

This unit of our Atlas University course on Socialism analyzes democratic socialism: In our generation, most socialists have shifted away from overtly dictatorial socialism. Among younger people is some level of awareness of socialism’s terrible history but they still think of it as an ideal to be striven for. What do they hope for and

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