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Pastimes : Austrian Economics, a lens on everyday reality -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (358)	11/7/2008 12:09:41 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 445

If you're enough of a thug to believe your government needs theft to survive they simply seize the food and supplies they need at the point of a gun. If you're polite you'll leave a receipt. If the people you're stealing from complain, you can shoot them. .

To: TimF who wrote (358)	11/7/2008 12:22:44 PM
From: Aloysius Q. Finnegan	Read Replies (2) \| Respond to of 445

Based on the quote from The Theory of Money and Credit in my previous post, I think most Austrian Economists would argue that a war fought on credit could unleash an evil far greater than any barbarian threat. That evil being inflation. Mises argued that "... the material equipment required by the armed forces must be provided out of the available means by restricting consumption for nonvital purposes, by intensifying production in order to increase output, and by consuming a part of the capital previously accumulated. All these things can be done if the majority of citizens are firmly resolved to offer resistance to the best of their abilities and are prepared to make such sacrifices for the sake of preserving their independence and culture ... " One might raise the question as to whether or not WWI could have been fought if not through expropriation via credit. The immensity of the war machine could only be built upon some form of enslavement. Would the Austrian Economist even support a nationalist position in a global war? I'm presuming they would interpret the world wars as beneficial only to the bureaucrats who rule over various "State Capitalist" nations.