First The Simpsons, Now ESPN.com: Front-Page-Linked NFL Article Talks About Fed "Funny Money"(negatively), Hayek (positively!)Submitted by LapHog on Tue, 01/15/2013 - 14:08
I know Charlie Sheen burned it out quick, but can we bring back #Winning! for the Austrian school?
The current top story on ESPN's front page is TMQ's take on college-style offenses; however, TMQ is sort of a sports/current-events hybrid type of column. In the middle of this one, the author discusses the idea of the trillion dollar coin; the concept of money; and the Fed... in a negative light! While one may find fault with some of what he wrote, most impressive may be the authority he invokes to support his perspective... None other than F.A. Hayek:
Economists including Friedrich Hayek have contemplated the idea that privately issued money would be more solid than government-issued money, since privately issued money would be cross-checked by market forces, while government is run to please campaign donors. Governments from the Roman emperors of the far past to the liberal Scandinavian democracies of today insist that they alone control the supply of money. One reason is to ensure taxation. At a deeper level, governments know how easily it could all unravel, and money be viewed as worthless.
The whole thing is worth having a look: http://espn.go.com/espn/playbook/story/_/id/8843881/college-...
Last, but definitely not least...