Browsing Untitled By Tag : rate of discount

Browsing By Tag "rate of discount"

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Anarchism and Force 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. Because I claim and teach that Anarchism justifies the application of force to invasive men and condemns force only when applied to noninvasive men, Mr. Hugh O. Pentecost declares that the only difference between Anarchism on the one hand and Monarchism or Republicanism on the other is the difference between the popular conception of invasion and my own. If I were to assert that biology is the science which deals with the phenomena of living matter and excludes all phenomena of matter that is not living, and if Mr. Pentecost were to say that, assuming this, the only difference between the biological sciences and the abiological is the difference between the popular conception of life and my own, he would...

Usury. [Liberty, November 26, 1881.] Paying money for the use of money is a great and barbarous wrong. It is also a stupendous absurdity. No one man can use money. The use of money involves its transfer form one to another. Therefore, as no one man can use money, it cannot be right and proper for any man to pay for the use of that which he cannot use. The people do use money; consequently, they should pay whatever the money may cost.(61 ¶ 1) Money is necessarily a thing which belongs to society. This is one of the great truths of civilization which has been generally overlooked. For this whole question of the rightfulness of interest turns on the question, What is money? So long as the people sha...


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.)

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