This article goes in depth to reveal the nature of booms and busts and the government’s involvement in them.
Mises Daily: Monday, December 21, 2009 by Murray N. Rothbard
[First published in Inquiry, November 12, 1979]
A half-century ago, America — and then the world — was rocked by a mighty stock-market crash that soon turned into the steepest and longest-lasting depression of all time.
It was not only the sharpness and depth of the depression that stunned the world and changed the face of modern history: it was the length, the chronic economic morass persisting throughout the 1930s, that caused intellectuals and the general public to despair of the market economy and the capitalist system.
Previous depressions, no matter how sharp, generally lasted no more than a year or two. But now, for over a decade, poverty, unemployment, and hopelessness led millions to seek some new economic system that would cure the depression and avoid a repetition of it. Read more…
Stephen Articles
As many are not aware, we hold the bulk of our discussions in our Facebook group. This is the best place to keep track of Progressive Libertarianism discussions, ideas, and announcements. There are several important discussions taking place regarding the future and direction of our movement and we invite you to come and speak your mind and be a part of the discussion.
The Progressive Libertarianism Facebook group can be found here: http://www.facebook.com/group.php?gid=64251576284
Stephen Announcements
Statement of Congressman Ron Paul
United States House of Representatives
Statement Introducing the Free Competition in Currency Act
December 9, 2009
Madame Speaker, I rise to introduce the Free Competition in Currency Act of 2009 (HR 4248). Currency, or money, is what allows civilization to flourish. In the absence of money, barter is the name of the game; if the farmer needs shoes, he must trade his eggs and milk to the cobbler and hope that the cobbler needs eggs and milk. Money makes the transaction process far easier. Rather than having to search for someone with reciprocal wants, the farmer can exchange his milk and eggs for an agreed-upon medium of exchange with which he can then purchase shoes.
This medium of exchange should satisfy certain properties: it should be durable, that is to say, it does not wear out easily; it should be portable, that is, easily carried; it should be divisible into units usable for every-day transactions; it should be recognizable and uniform, so that one unit of money has the same properties as every other unit; it should be scarce, in the economic sense, so that the extant supply does not satisfy the wants of everyone demanding it; it should be stable, so that the value of its purchasing power does not fluctuate wildly; and it should be reproducible, so that enough units of money can be created to satisfy the needs of exchange.
Over millennia of human history, gold and silver have been the two metals that have most often satisfied these conditions, survived the market process, and gained the trust of billions of people. Gold and silver are difficult to counterfeit, a property which ensures they will always be accepted in commerce. It is precisely for this reason that gold and silver are anathema to governments. A supply of gold and silver that is limited in supply by nature cannot be inflated, and thus serves as a check on the growth of government. Without the ability to inflate the currency, governments find themselves constrained in their actions, unable to carry on wars of aggression or to appease their overtaxed citizens with bread and circuses. Read more…
Stephen Legislation
After decades of trying, it seems very realistic that Rep. Ron Paul of Texas will have his bill to audit the federal reserve passed. It already has 282 co-sponsors in the house and is currently trying to gain support and momentum in the senate, with 20 co-sponsors so far. There are many in congress that seek to kill this bill, for fear of what a full audit of our federal reserve might reveal. We cannot let that happen, because as tax paying citizens of this country, we deserve some transparency and accountability in our government.
For more information on which representatives and senators have co-sponsored the bill, and for information on how to contact your representative and senator, visit the Ron Paul Website.
Stephen Legislation
Recently, a large grassroots movement has begun to take place across the nation. Average citizens everywhere are organizing and holding tea parties to protest against blind and massive government spending. So far the turnouts have been very large, with parties taking place daily in every state across the country. Chances are, there is a tea party being held near just about everyone in the US at some point, with many cities holding monthly and weekly rallies. Everyone is encouraged to get out to a tea party and get involved.
The massive government spending must end and the debt must be paid down, otherwise the hole just gets deeper and will soon begin to fill with water. Action must be taken in order to ensure that the people’s voices are heard, so send a message by participating at your local tea party, and mail your representatives in congress a tea bag as a reminder of their duties to you the citizen.
-Notice
Progressive Libertarianism is not affiliated with the Tea Party movement or any other movement, though we do seek to work together with those when we can who share a common interest or goal.
Stephen Announcements grassroots, tea party, teabag
Welcome to the new Progressive Libertarianism website. The site is still in its infancy and will slowly be changed and updated as we go.
Stephen Announcements
