It is individuals who must be encouraged to undertake the unprecedented - and unprecedentedly profitable - effort to prevent the annihilation of the human race.
L. Neil SmithEconomists tell us that the 'price' of an object and its 'value' have very little or nothing to do with one another. 'Value' is entirely subjective economic value, anyway while 'price' reflects whatever a buyer is willing to give up to get the object in question, and whatever the seller is willing to accept to give it up. Both are governed by the Law of Marginal Utility, which is actually a law of psychology, rather than economics. For government to attempt to dictate a 'fair price' betrays complete misunderstanding of the entire process.
L. Neil SmithMoney, first and foremost, is a medium of communication, conveying the information we call 'price'. Government control of the money supply is censorship, a violation of the First Amendment. Inflation is a lie.
L. Neil SmithSocialism is, among other things, the political habitat of low self-esteem, incompetence, self-loathing, and a willingness to steal - or have stolen for you what you are unable or unwilling to work for. Socialism is a philosophy fit only for slugs, leaches, and mosquitoes.
L. Neil Smith