[sourcery]

FYI

[NativeNewYorker]

mises.org ROCKS.

I subscribe to all their email newsletters and check the various parts of their site daily.

Highly recommended.

[headsonpikes]

Bastiat - possibly the greatest French thinker ever!

(apologies to Cartesians) ;^)

[Tauzero]

Bastiat rocks.

He's not quite right about trade facilitating peace though. It is not always so.

[justshutupandtakeit]

Bastiat explains what must happen when nations are on the Gold Standard. Hoarding, war to keep gold, economic war to restrict imports and push exports all must result from the GS. He is, of course, wrong when he claims governments create the view that money is Wealth. Governments didn't create that view, it goes with the gold standard.

Our nation's use of paper currency has not impeded its progress in the slightest. How much stronger could we have become had we been on metallic standards? Probably no stronger and quite likely weaker due to the inability of gold supplies to increase at a sufficient rate.

Bastiat is wrong if he believes the economy is served by a money supply incapable of growth at least at the rate of population and to keep pace with productivity growth. Otherwise, deflation sets in and that is destructive to an economy. Plus, it would be impossible for a democracy to accept since it would tend to crush borrowers and make the wealthy even more wealthy.

[SuperLuminal]

bttt