The gold standard regime in its international character existed from the late 19th century through to the First World War. As a system, the gold standard is generally conceived as a monetary system represented, directly or indirectly, by gold. While having elaborate systems of coinage and paper money surrounding it, the main element was that…

The injustice of developing countries having to pay back extortionate rates of interest that emanate from sovereign debt with colonial-era roots is often rightly made due to the oppressive nature of imperialistic regimes of the time. However, one may wonder why such colonial-era debt cannot be feasibly defaulted upon? The standard argument suggests that this…

To attribute to money a concept of bestowing freedom upon an individual owner may well exist as a theoretical possibility. Yet ownership is itself a contested concept. As is freedom. By bestowing freedom on the owner, it effectively prompts the dominance of certain types of power to come to the fore of monetary and economic…

I. The Nonexistent Ethical Dilemma The showdown between Greece and the EU is one of those events that brings out in stark contrast the dividing line between libertarians whose main concern is genuine economic freedom, and the sort of libertarian whose priority is the interests of big business and the propertied classes. In an exchange…

In my last two blog posts, I responded to Lynn Stuart Parramore’s article titled How Piketty’s Bombshell Book Blew Up Libertarian Fantasies. At the end of the second one, I promised an explanation of the economic theory I used to critique her article. This post will be a brief introduction to said economic theory. Let’s…