On the Austrian Theory of Money, a Reply to David Graeber

(Austrian) Economics, History
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David Graeber and Robert Murphy have been debating the validity of the monetary regression theory.  They seem to be talking past one another.  Graeber is assuming that Austrian theory agrees with neo-classical theory in areas where it does not, and Murphy is assuming that Graeber is substantially more familiar with Austrian ideas than he seems to be.  To clear up the confusion, we need to take a step back and start at the beginning.

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On the Casey Anthony trial

Legal System
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Had they charged her with the appropriate crime (negligent homicide), they probably would have won the case.  But apparently sending her to jail for many years wasn’t enough; they wanted her dead.  So, they went for murder despite having no proof of premeditation.  The judge should have dismissed the murder charge after the prosecution rested; that he didn’t is a travesty in itself.

There is absolutely no evidence for murder in this case, and anyone who thinks you should convict someone of a crime they didn’t commit because the state failed to charge them with a crime that they did doesn’t deserve to call themselves a libertarian.

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Continued confusion over the “rights” of corporations

Business, Legal System, Libertarian Theory, The Basics, The Left
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Voters in Madison, Wisconsin recently approved a measure asserting that corporations do not have constitutional rights.

The measure correctly asserts that only individuals have rights.  But then it proceeds to state that corporations do not.  This is collectivism at its finest.  A corporation doesn’t act.  People act.  Although the “corporation” doesn’t have rights as an entity, each and every owner of the corporation does.  The owners exercise those rights by having agents (the management) act on their behalf.  When we speak of a corporation acting, this is merely an abstraction from the individuals involved.  As Stephan Kinsella has explained, corporations are nothing more than a series of contracts enabling a large number of people to work together toward common goals.

This resolution, though purporting to support individual rights, is in reality opposed to such rights because it claims that these rights somehow disappear when the individuals who have them choose to use them in a coordinated manner.

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America’s Militarized Culture

Pop Culture, War
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A friend sent me Bob Murphy’s recent wall post:

Robert Murphy was flipping through the TV in the hotel room. On the History channel they were celebrating a sniper who apparently just broke the record for the longest kill shot. (He hit a Taliban guy from over a mile away.) They were interviewing him like he just won a hot dog eating contest. Regardless of your views on foreign policy, that is just sick.

My $.02:  Despite the paleo praise of “the white man” and his culture, the fact is that “white people” have been, are, and seem determined to be nothing but a bunch of self-aggrandizing barbarians. The military culture is the cause, not the effect here.  We are talking about a group of people that, for most of their history, saw nothing wrong with killing each other for sport.  This is just the latest incarnation of that “glorious” cultural tradition.

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To the Youth of Egypt: How Can We Help?

Anti-Statism, The Basics
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Here in America it has been difficult to get good reports about everything that is happening in Egypt. Every reporter has some agenda; they are more interested in making you fit their story, than making the story fit you. Still, even with the limited information available, I can see that what you managed to do is impressive.

Organizing non-violent protests to stand up to a brutal dictator takes courage. Bringing down a government supported by a super-power takes dedication. That you managed to do this without waging a war makes your success all the more admirable. You have given hope to the oppressed and energized the defenders of liberty in every nation. We are all inspired by your example: in the midst of the chaos, Muslims and Christians took turns protecting one another’s religious worship; in the absence of police, private citizens organized security to protect lives and property; when confronted by armed thugs, you held your ground in defense of liberty. For all that you have done, and for all that I hope you will achieve, I salute your bravery, integrity, and honor.

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