Journal of a Libertarian Anarchist and Austrian Economist
Monday, 15 October 2012
From Scarcity to Money
An attempt to show in diagram form the progression from the observation that objects are scarce/rivalrous, to the necessity of property laws, to the development of money.
A revealing example of this is that many people fear that in case of massive sovereign debt write-downs, the European Central Bank would suffer so many losses that it would require a recapitalization, at the obvious expense of the european taxpayers. bankreconciliation.info
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ReplyDeleteA revealing example of this is that many people fear that in case of massive sovereign debt write-downs, the European Central Bank would suffer so many losses that it would require a recapitalization, at the obvious expense of the european taxpayers. bankreconciliation.info
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