This blog, hosted by Solon and Tyro pictured below,
is for readers of the new book, Morality And Capitalism: A Dialogue On Freedom, an ebook available for review and purchase on Amazon.
Readers are welcome to post questions and comments about the ideas offered by Solon and Tyro (and the author) in Morality and Capitalism.
Solon was a sage philosopher, and Tyro still is. Join the dialogue with both! Make yourself heard, whether you stand for capitalism or against it.
is for readers of the new book, Morality And Capitalism: A Dialogue On Freedom, an ebook available for review and purchase on Amazon.
Readers are welcome to post questions and comments about the ideas offered by Solon and Tyro (and the author) in Morality and Capitalism.
Solon was a sage philosopher, and Tyro still is. Join the dialogue with both! Make yourself heard, whether you stand for capitalism or against it.
The book was amazing. I have a million things I would like to discuss, but in the interest of time I will choose one for now. Let me preface by saying I am no expert in economics so please forgive my questions if they seem unintelligent to someone having more economics and finance knowledge.
ReplyDeleteYou seem opposed to the institution of the Federal Reserve (at least in its current form). How would you envision the creation and management of the money supply in a capitalist system? Is that something that citizens would continue to allow their government to handle (only with unanimous support, of course), or is there a better solution?
Thank you for the kind words about Morality and Capitalism. :o) Do not be shy about not being formally trained in economics. Your questions and comments will always be welcome!
ReplyDeleteThe Fed is the cause of recessions, due to the boom-bust cycle it creates by manipulating the money supply and credit. I have posted numerous articles on my personal blog, EconoBlast, at Econoblast.blogspot.com, which amplify and explain my assessment of the Fed, so I won't repeat here.
In a truly capitalist political economy, money would not be monopolized by the state. In fact, the state would be prohibited from controlling the money supply. What is known as "free banking" would prevail instead.
The innovation called Bit Coin is an amazing result of technology that I think could eventually remove manipulation of money from the hands of the state. Of course, the state will not like that idea, because the state benefits enormously from controlling the money supply.
Bit Coin is a free market, voluntary exchange system of money, one that cannot be manipulated by the state --- except to ban bit coin altogether --- which is a very real threat.
The question you asked has many highly technical dimensions, which sadly cannot be treated well here. But much solid information is already out there about Bit Coin and about free banking. I recommend that you visit Cato Institute and type in search words "free banking" or "bit coin"
Thanks for the excellent question.
End the Fed, just as Ron Paul argues in his book.
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