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The Flogging

Flood's Blog: Expostulations by Anthony Flood

At Last, a Concise, Economically Sound, and Catholic, Exposé of Coughlin-Fahey Money-Crankery

Certain Catholics will not be amused.

An excerpt from "Fr. Coughlin and Friends" by Thomas Woods

“. . . both men claimed, for whatever reason, that money should be issued on the basis of the nation’s productive capacity, as measured in estimated national wealth. The fatal flaw in this approach is that this estimate of the nation’s wealth is itself denominated in money. As soon as the money bureaucracy that these men want to establish issues money on the basis of this estimate, the result will be higher prices, and therefore a higher nominal value of the nation’s wealth. This higher figure will then be used to justify another infusion of money, and such theorists as these will be heard to complain of yet another “scarcity of money.” The process will repeat itself again and again, all the while debasing and destroying the currency. Unlike a 100-percent reserve system, in which banks cannot issue more in notes than they have specie in their vaults, there is no logical limit to the expansion of the unbacked paper money favored by Fathers Coughlin and Fahey. Paper, ink, and a printing press are all that is required.

“The inflationist approach of Frs. Coughlin and Fahey would have produced all the negative consequences of any inflationist scheme. All the injustice toward non-favored segments of the community (who get the new money last), all the confusion and chaos in business calculation, all the incentives to consume and spend rather than save and invest, all the impoverishment – these would remain. They did not object in principle to the counterfeiting and inflationism of the Federal Reserve; they simply wanted the government itself to engage in these practices directly rather than through what they considered the plutocratic intermediary of an institution like the Fed.”

For the surrounding, equally illuminating, paragraphs, go here.
Contrarian Kinsella on Kelo: “Right Decision, Wrong Reasons”


“. . . the alleged purpose of the public use requirement is to prevent taking of property to benefit private parties. However, as any libertarian knows, this is just what government is about – seizing private property for its private pals – taxing you for Lockheed, for example. Even takings of property for public use invariably benefit certain people, often the cronies of state officials. The Court in Kelo even acknowledges this.”

For the rest of N. Stephan Kinsella's comprehensive, brilliant analysis, go here.
But "Eminent Domain" is Bullshit, Too!

Individuals may have common but cannot have "public" interests. It is therefore no more unjust to take a man's home and evict him therefrom to build a mall than a road.

Conservatives and even "respectable" libertarians have long ago made their peace with the Constitution's "takings" clause which, along with the one about "regulating interstate commerce," only further illustrates the implausibility of "limited government."

Pending the expedient "emergency" that the private interests at the helm of State can easily provide, all now lies in readiness for a legal transition to a franker communism or fascism. All for the "common good," of course.
Did You Know That Freedom Could Be a "Blow"?

Their health system is killing Canadians, but their "character" had required them to pay for "free" medical services through taxes and bureaucracy and criminalizing those who would provide those services at a higher quality for lower cost. Some still feel dismantling the socialist mess would violate their — get this — "Rights and Freedoms" Charter!

"Freedom only as a last resort!" sums up the Euro-Canadian mental disease, which has always been uninsurable.

In Blow to Canada's Health System, Quebec Law Is Voided
By CLIFFORD KRAUSS
New York Times, June 10, 2005

TORONTO, June 9 - The Supreme Court on Thursday struck down a Quebec law banning private medical insurance in a decision that represents an acute blow to the publicly financed national health care system.

Democracy: The Bullshit for Which Americans Kill and Are Being Killed

The thoughtless comeback usually hurled at any critic of democracy is that we owe to it the very liberty to criticize it. This is a case of saying what one has been conditioned to say without knowing what one is talking about, otherwise known as bullshit.

In a nondemocratic libertarian order there would be maximal freedom to criticize any political order, including the libertarian. In a democratic order, however, there may or may not be the freedom to criticize democracy, depending on what the leaders of the demos think is good for them and on how deeply a love of liberty has taken root in a given people.

For if your words offend the sensibilities of a certain segment of the demos, you may find yourself, not praised for "exercising the democratic right of free speech," but instead excoriated for "hate speech, which has no place in our democracy" and consequently find oneself heavily fined or in jail, or worse, while human rights watchdogs who fancy themselves Voltairean "civil libertarians" snooze.

You see, the one genuinely in need of someone to advocate for his natural right to publish words (by means, of course, of his own property) may now be classified as a "terrorist" or "a known associate of terrorists" or, what is more likely, "someone whose writings known associates of terrorists like to read." Now, why should a "human rights" watchcur jeopardize his hard-won reputation for probity on such an ambiguously defensible individual?

So there is no "performative contradiction" in my linking to Professor Butler Shaffer's eloquent mockery of the democratic faith in today's LewRockwell.com. The convinced democrat is no friend of his and my (so far) unmolested liberty to write and publish, but rather a superficially "libertarian" Dr. Jekyll whose tyrannical Mr. Hyde is never far from the surface.

In case the reader is not inclined to take the link to Professor Shaffer's column, which is also an expert diagnosis of the obscurantism regnant in academia, I would not want him or her to miss its prefatory aphorism by Mencken:

"Democracy is also a form of worship. It is the worship of Jackals by Jackasses."

But, please, do yourself a favor and read what follows.
Communism's Constitutional Loophole

The Court, Federalism, and the Free Market
by D.T. Armentano*


"The commerce clause was never meant to prohibit sick individuals from consuming plants grown on their own property. Yet to acknowledge that fact, the Supreme Court majority would have had to rethink the core principles of individual liberty and the entire legal foundations of our regulatory society. And that they chose not to do."

For the rest of Professor Armentano's analysis, go here:

* Professor Emeritus, University of Hartford; adjunct scholar, Mises Institute; member, editorial board, Quarterly Journal of Austrian Economics; and author, Antitrust and Monopoly: Anatomy of a Policy Failure and Antitrust: The Case for Repeal.

Who's Bullshitting Whom? My Run-in with Harry G. Frankfurt

Princeton philosophy professor Harry G. Frankfurt was recently featured on CBS News’ 60 Minutes to discuss an essay that was once more modestly anthologized in his The Importance of What We Care About (Cambridge University Press, 1988), but now has been bound between two boards as a 67-page "book." This media event reminded me of an email Professor Frankfurt sent me this past Paddy’s day:

Dear Sir:

It has come to my attention that you have placed a copy of my essay "On Bullshit" on your website. I appreciate the compliment. As you may know, however, the essay has recently been published as a book by the Princeton University Press. The management of the Press and I are concerned that your use of my essay may interfere with sales of the book. In any case, it constitutes a clear infringement of my copyright. I must ask you, therefore, to remove the essay from your website as soon as possible.

To which I replied that day: