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...
To-day’s Excellent Fooling. [Liberty, August 16, 1890.] To-day’s rejoinder to my criticism of its article on interest is chiefly remarkable as an exhibition of dust-throwing. In the art of kicking up a dust the editor is an expert. Whenever he is asked an embarrassing question, he begins to show his skill in this direction. He reminds one of the clown at the circus when stumped by the ring-master to turn a double somersault over the elephant’s back. He prances and dances, jabbers and gyrates, quotes Latin forwards and Greek backwards, declaims in the style of Dr. Johnson to the fishwife, sings algebraic formulæ to the music of the band, makes faces, makes puns, and makes an excellent fool of himself; and when at the end of all thi...
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.)