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Showing posts from December, 2020

The Party Once More

  The following is excerpted from "The Party Once More", written by Murray N. Rothbard for the May, 1972 issue of The Libertarian Forum. "More substantially, Mr. Nolan writes that the primary purpose of the Libertarian Party is not immediate electoral victory but to educate the public in libertarian ideas. We never thought otherwise. But the problem with this approach - a long-standing objective of minor parties - is that the psychology of the mass of the public being educated is overlooked.  Let us take, for example, the poor old Socialist Labor Party, which, doggedly, every four years for nearly a century, has been nominating Presidential candidates and gettting them on the ballot. What impact on the electorate has the SLP achieved? The problem is that the party has been so small, so flagrantly unviable, that the educational impact for socialism by the SLP has ranged sternly from zero to negative.  For what is the reaction of the public? The reaction of the average cit

Against the LP

Agorism has no room for politics.  The Agora & political institutions can coexist no more than a state of marriage & bachelorhood can coexist. Counter-economics & politicking are likewise mutually exclusive. Frankly, it should seem obvious that engaging in politics & anti-politics is contradictory & self-defeating. It wouldn’t make much sense to get chemo in the morning & smoke a pack of Marlboros in the evening, so why would one seek to destroy the government today, and empower it tomorrow?  Just as a chemist who tests a logically inconsistent theory will experience failure, so too will social scientists & revolutionaries experience failure when they pursue inconsistent theories.  Note that without exception - every gain made by the liberty community in the past 15 years has been produced by the counter-economy & that no other faction of our movement can claim even a small victory . Here’s a brief look at the scoreboard: Whereas the LP & small gov

Four Cornerstones of Bitcoin

Some time ago I wrote a short piece that I called " Notes on Bitcoin as a Reserve Currency " where I laid out some basic thoughts on the concept of becoming your own bank, and one of the possible side effects of that (spelled out in the title of the blog post). I then sent a link to it to Sal, because I knew I would get some great feedback on it. I was right. Sal sent me a great reply and it helped me to further flesh out the idea and this blog entry is basically that. I tried to, foolishly, jump over the fundamentals and Sal pulled me back down to the trenches. "Intrinsic" Value "To a naive observer, money made out of precious metal was 'sound money' because the piece of precious metal was an 'intrinsically' valuable object, while paper money was 'bad money' because its value was only 'artificial'. But even the layman who holds this opinion accepts the money in the course of business transactions, not for the sake of its industr