Browsing By Tag "rate of discount"
The Futility of the Ballot 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. No superstition was so tirelessly and so mercilessly attacked by the editor of Liberty as that of the ballot. To those who defended it and advocated it as a means of securing liberty he was always ready with a biting answer. Here are some samples of such: General Butler's long-expected letter [in acceptance of the nomination for the presidency given him by the labor party] is out at last. The question now is how many it will hoodwink. Among these at least will not be Liberty. Would that as much could be asserted of all who think they believe in Liberty. But the political habit is a clinging one; the fasci-nations of polit...
Voluntary Cooperation. [Liberty, May 24, 1890.] It is questionable whether Herbert Spencer will relish Mr. Donisthorpe’s classification of him as one of four lights of Anarchy. I think he would be justified in putting in a disclaimer. No doubt Anarchy is immeasurably indebted to Mr. Spencer for a phenomenally clear exposition of its bottom truths. But he entertains heresies on the very questions which Mr. Donisthorpe raises that debar him from recognition as an Anarchist. His belief in compulsory taxation and his acceptance of the majority principle, not as a temporary necessity, but as permanently warranted within a certain sphere, show him to be unfaithful to his principle of equal liberty, as Mr. Donisthorpe has convincingly demonstrated in his recent book on...
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.)