The Knights of Basic Economics

  1. Lmao! R-libertarian was just yesterday gushing over Goldbug-in-Chief Ron Paul "owning" Ben Bernanke in that infamous video of Bernanke telling him gold is not money with a straight face without stuttering.

  2. This is not really as big of an insult as you imagine, since I believe that on the grounds of libertarian ideology, age of consent laws are suspect, so even principled libertarians would share said opinion. (I think — I have never read about any of the founders of libertarianism talk about this)

  3. You should especially never ask a Libertarian's opinion on the age of consent. If you do, there will be a 50/50 chance you end up in jail after you assault them out of pure anger.

  4. I'm still a libertarian but I've realized that a central bank is the worst way to manage a currency except for all the others.

  5. Free banking + commodity money has actual theoretically and empirically evidence backing it up, unlike central banking. I have research if you’d like

  6. Lolberts usually understand micro better than most (most know basically none at all). But on macro they're very shit.

  7. They see the Gilded Age as the best time in American history, when for nearly every American it was one of the worst eras. They fail to put two and two together to understand how those generations at the dawn of the 20th century and into the Depression became "damn near socialist" and voted for FDR four times.

  8. I have a Libertarian Socialist friend who’s majoring in Econ. He’s very knowledgeable, but too idealistic I feel.

  9. Every libertarian I've ever talked to IRL has been sooo laborious to talk to. Somehow they always bring the topic of conversation around to politics. To a fault, I avoid speaking to any of them about any topic whatsoever.

  10. Libertarians when they can’t use government enforcement to make people talk to them and it turns out that they are worthless on the free market of conversation: 😖

  11. Hayek? Mises? Friedman? Buchanan? Vernon Smith? Scott Sumner? John Cochrane? Tyler Cowen? Deirdre McCloskey? William Niskanen? George Selgin? Lawrence White? Richard Timberlake?

  12. I have heard libertarians argue against the concept of fractional reserve banking. I guess credit wouldn't exist in a pure free market system?

  13. Na, the Free Banking School (largely composed of libertarians and classical liberals), have done a lot of research on the faults of central banking, which I’m yet to see a credible rebuttal of.

  14. I am not generally opposed to libertarianism and will probably resume using the term if the Mises Caucus is ever deposed. But this is one of their most embarrassing positions. Foreign policy in general, too.

  15. I wanted pretty badly to be a libertarian when I first became conscious of politics but there were just too many positions that would make me cringe and I had to just ignore. Nobody that seriously believes we should return to the fucking gold standard should be taken seriously when you’re talking about econ.

  16. Serious question: what are the main arguments against using precious metals as currency? Is it mainly around monetary policy flexibility?

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