Browsing By Tag "rate of discount"
Anarchism and the State Excerpted from the book; Individual Liberty Selections From the Writings of Benjamin R. Tucker Vanguard Press, New York, 1926 Kraus Reprint Co., Millwood, NY, 1973. Mr. Henry Appleton, one of Liberty's original editorial contributors, was obliged to cease to act in that capacity when he took a position not in harmony with that of the editor on a point of great importance, whereat he later complained, and tried to explain his view of the controversy. In answering him, Mr. Tucker dealt with some essential questions of principle: I do not admit anything except the existence of the individual, as a condition of his sovereignty. To say that the sovereignty of the individual is conditioned by Liberty is simply another way of saying that it is conditioned by itself. To condition it by the cost principle is...
Who is the Somebody? [Liberty, August 6, 1881.] Somebody gets the surplus wealth that labor produces and does not consume. Who is the Somebody? Such is the problem recently posited in the editorial columns of the New York Truth. Substantially the same question has been asked a great many times before, but, as might have been expected, this new form of putting it has created no small hubbub. Truth’s columns are full of it; other journals are taking it up; clubs are organizing to discuss it; the people are thinking about it; students are pondering over it. For it is a most momentous question. A correct answer to it is unquestionably the first step in the settlement of the appalling problem of poverty, intemperance, ignorance, and crime. Truth...
These letters, addressed to Frederic Bastiat, an economist, originally appeared in a debate published in The Voice of the People, in 1849. Interest and Principal Arguments Drawn from the Operations of the Bank of France It is not true--and the facts just cited prove beyond a doubt that it is not--that the decrease of interest is proportional to the increase of capital. Between the price of merchandise and interest of capital there is not the least analogy; the laws governing their fluctuations are not the same; and all your dinning of the last six weeks in relation to capital and interest has been utterly devoid of sense. The universal custom of banks and the common sense of the people give you the lie on all these points in a most humiliat... (From : Anarchy Archives.)