A Global Fiat Currency: “One Ring to Rule Them All”, by Thorsten Polleit

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One for the Dark Lord on his dark throne

In the Land of Mordor where the Shadows lie.

One Ring to rule them all, One Ring to find them,

One Ring to bring them all, and in the darkness bind them.

In the Land of Mordor where the Shadows lie.

J.J.R. Tolkien, The Lord of the Rings

We’re fighting Sauron. From Thorsten Polleit at mises.org:

1.

Human history can be viewed from many angles. One of them is to see it as a struggle for power and domination, as a struggle for freedom and against oppression, as a struggle of good against evil.

That is how Karl Marx (1818–83) saw it, and Ludwig von Mises (1881–1973) judged similarly. Mises wrote:

The history of the West, from the age of the Greek Polis down to the present-day resistance to socialism, is essentially the history of the fight for liberty against the encroachments of the officeholders.1

But unlike Marx, Mises recognized that human history does not follow predetermined laws of societal development but ultimately depends on ideas that drive human action.

From Mises’s point of view, human history can be understood as a battle of good ideas against bad ideas.

Ideas are good if the actions they recommend bring results that are beneficial for everyone and lead the actors to their desired goals;

At the same time, good ideas are ethically justifiable, they apply to everyone, anytime and anywhere, and ensure that people who act upon them can survive.

On the other hand, bad ideas lead to actions that do not benefit everyone, that do not cause all actors to achieve their goals and/or are unethical.

Good ideas are, for example, people accepting “mine and yours”; or entering into exchange relationships with one another voluntarily. Bad ideas are coercion, deception, embezzlement, theft.

Evil ideas are very bad ideas, ideas through which whoever puts them into practice is consciously harming others. Evil ideas are, for example, physical attacks, murder, tyranny.

More…

      
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Ulfbehrt
Ulfbehrt
9 days ago

Wow, that was meaty. Outstanding. So wonderful to observe what big brains can do for good. Thank you.
Reckon I will hope a little longer, after all, there’s no cost to hope is there…

strider 777
strider 777
9 days ago

Washington, D.C. -- a.k.a. “Mordor on the Potomac.”

AngryPatriot
AngryPatriot
6 days ago

Mises was a great Austrian economist. I have always appreciated his “government hands off” approach to economics.