Paul Krugman is Wrong Again News Bitcoin News

Here’s what Paul Krugman doesn’t get about Bitcoin

Here’s what Paul Krugman doesn’t get about Bitcoin submitted by Guitarbits to Bitcoin [link] [comments]

Here’s what Paul Krugman doesn’t get about Bitcoin - "In the mainstream imagination, Bitcoin is either the second coming of the gold standard or a repeat of the Dutch tulip craze."

Here’s what Paul Krugman doesn’t get about Bitcoin - submitted by beofotch to Libertarian [link] [comments]

Here’s what Paul Krugman doesn’t get about Bitcoin

Here’s what Paul Krugman doesn’t get about Bitcoin submitted by CryptoJunky to CryptoCurrency [link] [comments]

Here’s what Paul Krugman doesn’t get about Bitcoin

Here’s what Paul Krugman doesn’t get about Bitcoin submitted by petskup to Bitcoin [link] [comments]

Hitler Hunt for 7/16/2019

I found 135 Hitlers in Politics today.

As backlash against Trump’s ‘go back’ comments builds, here’s Ronald Reagan’s ‘love letter to immigrants’: ‘You can go to live in Germany, Turkey or Japan, but you cannot become German, Turk or Japanese. But anyone, from any corner of the Earth, can come to live in America and become an American.’
RacistGOP trends on Twitter as Republicans stay silent on Donald Trump's racist attack
Rep. Al Green says he will file articles of impeachment against Trump tonight, despite pushback from Democratic leaders
Melania Trump remains silent on husband's racist tweets despite having been a US citizen for shorter time than Ilhan Omar
Kellyanne Conway Snaps Back at Reporter: ‘What’s Your Ethnicity?’
Ivanka Trump, Jared Kushner And Every Trump Administration Official Accused Of Using Personal Email For Work
When Does America Reckon with the Gravity of Donald Trump's Alleged Rapes?
Twitter Users Slam Mitt Romney’s ‘Spineless’ Reaction To Racist Trump Tweets — The Utah senator refused to answer a reporter’s question on if he thought the president was racist.
'Good,' Says Elizabeth Warren, After Billionaire Right-Winger Peter Thiel Says She's 2020 Democrat He Is 'Most Scared By'
Trump’s Racism Is Not Blundering -- It Is Tactically Deliberate - Trump's racism is not an oops, it's a fascist strategy.
William Barr steps in to make sure the NYPD cop who killed Eric Garner won’t be prosecuted
Federal judge permanently blocks Trump admin from adding citizenship question to 2020 census
Donald Trump has made it clear: the only 'real Americans' are white and Christian
ObamaWasBetterAt trends after Trump Attacks on Minority Congresswomen
GOP advisers reportedly told Trump his racist attacks on Democratic congresswomen may have backfired
President angrily attacks victims of his racist tweets for third day in a row, as impeachment calls grow
Trump supporters stand by the president amid inflammatory tweets: "That's why I voted for him"
Oregon to require schools to teach about Holocaust
Pelosi is forcing House Republicans to go on the record on Trump’s ‘go back’ tweets
New Hampshire county commissioner quits GOP because of Trump
Trump Is Now Calling “The Squad” “Pro Terrorist” In Yet Another Racist Tweet
Trump says he will 'take a look' at investigating Google for treason.
Mayor Kenney: ‘If Donald Trump Ever Has To Go Back Where He Came From, He’s Going To Have To Go To Hell’
‘Nobody Opened the Door’: Neighbors Rally During an ICE Raid in Houston
House Condemns Trump’s Attack on Four Congresswomen as Racist
Jewish Protestors form human chain around ICE Headquarters saying “Never Again is Now”
'Unfit to be president': Full text of House impeachment resolution on Trump
‘Really Good Speller’ Trump’s Handwritten Note Shows Embarrassing Mistakes
Conway To Reporter Who Asked About Trump’s Racist Tweets: ‘What’s Your Ethnicity?’
Ilhan Omar to Maddow: Trump Is ‘Corrupt,’ ‘Inept,’ and the ‘Worst President We’ve Had’
Chris Evans Exposes ‘Painfully Transparent’ Reason For Trump’s Racist Attack
Donald Trump is like a 20th-century fascist, says Sadiq Khan
Trump’s notes show he doesn’t have a clue how to spell Al Qaeda
House GOP Leaders Claim Trump Tweets Not Racist Because We Are ‘Party Of Lincoln’
If You Helped a Racist Become the Most Powerful Person in America, Then You’re a Racist Too
Kellyanne Conway to reporter: What's your ethnicity?
Kris Kobach: I Might Still Support Trump if He Came Out and Said ‘I’m a Racist’
Anti-Defamation League blasts Trump for 'invoking support for Israel to defend this racism'
Kellyanne Conway just said something that should stun you
Trump is an apocalypse
As Hate Incidents Grow, More States Require Schools To Teach The Holocaust
Trump vs. 'the Squad' makes watershed moment in racial politics
Children in states with strict gun laws are less likely to die, according to a new study
Treasury secretary says he doesn't find Trump's tweets racist
Trump repeats racist attack, says Democratic congresswomen ‘can leave’ the US
Puerto Rico’s governor needs to step down
Trump: I don't have a racist bone in my body
‘Trump’s Going to Get Re-elected, Isn’t He?’ Voters have reason to worry.
There’s One Heresy That Sets Bernie Apart From All Other Dem Contenders to Unseat Trump
Trump Faces Backlash from Base over Bitcoin
Watch: Ilhan Omar declines to respond to Trump claiming she supports al Qaeda
Moderate Dem slams 'squad' for threatening to primary him: 'They're not Democrats ... they're socialists'
Sieg Heil! I mean... Beep Boop, I am a robot.
My purpose is to find and link comments in Politics that contain the word 'Hitler'
Since my birth, I have found a total of 43614 Hitlers in Politics. On average, I found 79 Hitlers per day.
Today, I read 54953 comments. In total, I have read 24333224 comments.
submitted by HitlerFallacyBot to TheHitlerFallacy [link] [comments]

To detect fake news, this AI first learned to write it

One of the biggest problems in media today is so-called “fake news,” which is so highly pernicious in part because it superficially resembles the real thing. AI tools promise to help identify it, but in order for it to do so, researchers have found that the best way is for that AI to learn to create fake news itself — a double-edged sword, though perhaps not as dangerous as it sounds.
_Grover_is a new system created by the University of Washington and Allen Institute for AI (AI2) computer scientists that is extremely adept at writing convincing fake news on myriad topics and as many styles — and as a direct consequence is also no slouch at spotting it. The paper describing the model is available here.
The idea of a fake news generator isn’t new — in fact, OpenAI made a splash recently by announcing that its own text-generating AI was too dangerous to release publicly. But Grover’s creators believe we’ll only get better at fighting generated fake news by putting the tools to create it out there to be studied.
OpenAI built a text generator so good, it’s considered too dangerous to release
“These models are not capable, we think right now, of inflicting serious harm. Maybe in a few years they will be, but not yet,” the lead on the project, Rowan Zeller, told me. “I don’t think it’s too dangerous to release — really, we _need_to release it, specifically to researchers who are studying this problem, so we can build better defenses. We need all these communities, security, machine learning, natural language processing, to talk to each other — we can’t just hide the model, or delete it and pretend it never happened.”
Therefore and to that end, you can try Grover yourself right here. (Though you might want to read the rest of this article first so you know what’s going on.)

Voracious reader

The AI was created by having it ingest an enormous corpus of real news articles, a dataset called RealNews that is being introduced alongside Grover. The 120-gigabyte library contains articles from the end of 2016 through March of this year, from the top 5,000 publications tracked by Google News.
By studying the style and content of millions of real news articles, Grover builds a complex model of how certain phrases or styles are used, what topics and features follow one another in an article, how they’re associated with different outlets, ideas, and so on.
This is done using an “adversarial” system, wherein one aspect of the model generates content and another rates how convincing it is — if it doesn’t meet a threshold, the generator tries again, and eventually it learns what is convincing and what isn’t. Adversarial setups are a powerful force in AI research right now, often being used to create photorealistic imagery from scratch.
Mona Lisa frown: Machine learning brings old paintings and photos to life
It isn’t just spitting out random articles, either. Grover is highly parameterized, meaning its output is highly dependent on input. So if you tell it to create a fake article about a study linking vaccines and autism spectrum disorders, you are also free to specify that the article should seem as if it appeared on CNN, Fox News, or even TechCrunch.
I generated a few articles, which I’ve pasted at the bottom of this one, but here’s the first bit of an example:
Serial entrepreneur Dennis Mangler raises 6M to create blockchain-based drone delivery
May 29, 2019 – Devin Coldewarg
Drone delivery — not so new, and that raises a host of questions: How reliable is the technology? Will service and interference issues flare up?
Drone technology is changing a lot, but its most obvious use — package delivery — has never been perfected on a large scale, much less by a third party. But perhaps that is about to change.
Serial entrepreneur Dennis Mangler has amassed an impressive — by the cybernetic standards of this short-lived and crazy industry — constellation of companies ranging from a top-tier Korean VC to a wholly owned subsidiary of Amazon, ranging from a functional drone repair shop to a developer of commercial drone fleets.
But while his last company (Amazon’s Prime Air) folded, he has decided to try his hand at delivery by drone again with Tripperell, a San Francisco-based venture that makes sense of the cryptocurrency token space to create a bridge from blockchain to delivery.
The system they’re building is sound — as described in a new Medium post, it will first use Yaman Yasmine’s current simple crowdsourced drone repair platform, SAA, to create a drone organization that taps into a mix of overseas networks and domestic industry.
From there the founders will form Tripperell, with commercialized drones running on their own smart contracts to make deliveries.
Not bad considering it only took about ten seconds to appear after I gave it the date, domain, my name (ish), and the headline. (I’d probably tweak that lede, but if you think about it, it does sort of make sense.)
Note that it doesn’t actually know who I am, or what TechCrunch is. But it associates certain data with other data. For instance, one example the team offered was an editorial “in the style of,” to co-opt cover bands’ lingo, Paul Krugman’s New York Times editorials.
I don’t think it’s too dangerous to release — really, we need to release it. “There’s nothing hard coded — we haven’t told the model who Paul Krugman is. But it learns from reading a lot,” Zeller told me. The system is just trying to make sure that the generated article is sufficiently like the other data it associates with that domain and author. “And it’s going to learn things like, ‘Paul Krugman’ tends to talk about ‘economics,’ without us telling it that he’s an economist.” It’s hard to say how much it will attempt to affect a given author’s style — that may or may not be something it “noticed,” and AI models are notoriously opaque to analysis. Its style aping goes beyond the author; it even went so far as creating the inter-paragraph “Read more” links in a “Fox News” article I generated.
But this facility in creating articles rests on the ability to tell when an article is not convincing — that’s the “discriminator” that evaluates whether the output of the “generator” is any good. So what happens if you feed the discriminator other stuff? Turns out it’s better than any other AI system right now, at least within the limits of the tasks they tested it on, at determining what’s fake and what’s real.
Fabula AI is using social spread to spot ‘fake news’

Natural language limitations

Naturally Grover is best at detecting its own fake articles, since in a way the agent knows its own processes. But it can also detect those made by other models, such as OpenAI’s GPT2, with high accuracy. This is because current text-generation systems share certain weaknesses, and with a few examples those weaknesses become even more obvious to the discriminator.
“These models have to make one of two bad choices. The first bad option is you just trust the model,” Zeller said. In this case, you get a sort of error-compounding issue where a single bad choice, which is inevitable given the number of choices it has to make, leads to another bad one, and another, and so on; “Without supervision they often just go off the rails.”
“The other choice is to play it a bit safer,” Zeller explained, citing OpenAI’s decision to have the generator create dozens of options and pick the most likely one. This conservative approach avoids unlikely word combinations or phrases — but as Zeller points out, “human speech is a mix of high probability and low probability words. If I knew what you were going to tell me, you wouldn’t be speaking. So there have to be some things that are hard to anticipate.”
These and other habits in text generation algorithms make it possible for Grover to identify generated articles with 92 percent accuracy.
And no, you’re very clever, but you can’t just take the ones it doesn’t detect and sort of breed them together to make more convincing ones. As it turns out, this type of strategy doesn’t actually help a lot — the resulting “super-algorithms” still stumble in similar ways.

Self-extinguishing danger

On the face of it, Grover seems like a pretty dangerous tool. With a bit of tweaking the articles it created for me could easily pass the smell test of a casual reader unfamiliar with the topic. So why is the team releasing it and the dataset it’s based on?
The more articles we have from an adversary, the easier it is to detect that adversary. First of all it’s not just going to be an app you download — “We want researchers to easily be able to use the model, but we’re not making it completely public,” Zeller clarified. But even so, the likelihood of it being used for evil is counterintuitively low. “If you just wanted to write ten take news articles, you could just write them yourself,” he points out — and indeed, it’s hard to imagine some mastermind going to all this trouble just to generate a handful. “But if you want to write a hundred thousand, you could use our tool — but the more articles we have from an adversary, the easier it is to detect that adversary.” So it would be a self-defeating plot resulting in a sort of “known fake news” that’s easy to flag.
That assumes, however, that there’s a method for applying algorithms like Grover’s to news at large, or that individuals are motivated to question or verify articles they read in the first place. Unfortunately that’s not anywhere near the case.
“This is a totally non machine learning related question,” Zeller admitted. “How do we make this useful for people? How do we make it so when people read news online, they can check if it’s fake, and want to?”
No AI can generate a good answer to that prompt. Here’s hoping we humans are up to the task.

Appendix

I generated several articles to study, and some were better than others. I didn’t save all of them, but I’ve put a few below for anyone curious to see what Grover’s output looks like without going and generating their own. The results are entertaining and far from nonsense, though anyone who reads closely at all would see some red flags. I’ve only slightly formatted for readability and haven’t changed any words.
The first is a redo of the one I quoted above, with a slightly tweaked headline (that’s misinterpreted in an unexpected yet logical way):
Serial founder Dennis Mangler raises 6M to create blockchain-based drone delivery
May 30, 2019 – Devin Coldewey, techcrunch.com
Dennis Mangler of Serial, one of the first open source blockchain-based systems to launch and now a key part of the Ethereum ecosystem, has raised a couple of million dollars in venture funding in order to bring drones and cryptocurrencies together.
Armed with $1.4 million of seed funding, they’re now offering new features for their system to seed investors, including a marketplace for goods sold using the platform. In some ways this could be analogous to the early days of Bitcoin — it had a primary market in petabytes of processing power, and all it took to mine something was an individual machine with the right electricity and gigabytes of RAM. Drones could eventually deliver that stuff just as easily, but they’d also need to run some kind of distributed ledger.
“There’s a tremendous opportunity for companies to seamlessly connect the logistics side of the industry and the blockchain side of the industry,” Mangler told me. “A lot of companies are already already doing it. But we want to supercharge their efforts and help them change how they operate.”
If they can plug the crypto in, where it comes from and why would people care about it as a means of exchanging value or keeping track of it, and what could be done to legitimize or add interest to the platform.
The fundraiser is still going — Mangler sent me some emails, asking that I not make too much of it — but the raise has now reached 6 million. You can find information on the project here.
First, take note of the speed with which this started to sprout. You’d figure in this day and age that looking at how much money was being raised, accredited investors and large corporations would surpass crowdsourced funding — but Mangler says not so fast.
“The coin exchange is going to be enabled in a couple of months,” he told me. “And I believe the push-ups are going to become a new industry before the cryptocurrency market itself is.”
To do that, some smart marketplaces are going to have to be created; however, these might have to function with information and transactions distributed far across the network rather than in clusters running the decentralized network. An air-traffic control system would theoretically be in place as well — a little like Microsoft’s Azure, or Facebook’s Open Graph, but an open blockchain-based variant.
And finally, he says the buzz is you should look at Amazon as a model; they invented the space, and just through focus and sharp execution have pretty much changed it. They need a little time to build it out but they’re getting there.
This one was done in the style of Fox News. There’s no such person as Dr Nicholas Colvin — I checked. Bobby Scott is indeed a Member of Congress – but in Virginia, not Florida.
Multi-year study links vaccines to higher incidence of Autism spectrum disorders
May 29, 2019 – Sofia Ojeda, foxnews.com
Dr. Nicholas Colvin, lead author on a new multi-year study published by the National Institutes of Health, says as a vaccine advocate, he understands the risks and benefits of vaccines in the United States.
“At the core of it, it’s about safety. You know, we have options for our children, and parents have choices in making those choices. And vaccines provide, you know, safety for all those kids, all those families,” Dr. Colvin said.
READ MORE: Autism experts call California vaccine study ‘shaky science’
Colvin and colleagues looked at all medical records of nearly 3 million kids in the first decade of this century. They found girls tend to be more sensitive to the harmful side effects of vaccines than boys.
“Specifically in autism, and other neurodevelopmental disorders in kids, our analyses show that there is higher prevalence of autism in kids that have been vaccinated than in kids that haven’t been vaccinated,” he said.
In fact, people born around 2000 were more likely to have autism or similar neurodevelopmental disorders than kids born in earlier decades.
“And then we also found that younger kids in the United States, those born between 2000 and 2011, had a somewhat higher rate of autism — and that higher rate was driven by girls,” Colvin said.
READ MORE: Trump endorses FL Rep. Bobby Scott’s position on vaccine bill
Dr. Colvin points out the findings aren’t meant to scare parents from vaccines.
“I don’t want to scare people. I just want to make sure parents are aware that there is a risk. We don’t think this is a big risk. It is certainly real and is, you know, consistent with other research, but not in a way that I would say is something that’s life-threatening,” Colvin said.
He also points out that there is no known cause of autism, which is why he says anyone with suspicion or concern should talk to their doctor.
The National Institutes of Health says there is no vaccine for autism at this time. Colvin says that uncertainty has caused some misconceptions and a decrease in vaccine uptake
Lastly, I was interested to see what would happen if I threw a monkey wrench in there:
Founder Daenarys Targaryen raises 17M Series A round for new AI startup offering “self-driving blockchain”
May 29, 2019 – Kenneth Turan, techcrunch.com
One thing about “Game of Thrones” is that the characters are an active group of entrepreneurs, all with new enterprises at the ready when the show’s storylines take off. And it looks like the show’s creators, David Benioff and D.B. Weiss, and the team behind live-streaming game streaming app Twitch are thinking about going the same way, if not longer.
Good behavior indeed. First, the Lannisters get their Hand: Haylie Duff is on board as an executive producer. Today, we learn that Rene Oberyn Martell, one of the “impossible sons” we saw in season six (the name was borrowed from a line in Robert’s Rebellion) has established himself as the new face and voice of a new company called Margaery One.
We learn that Margaery is a decentralized data machine; indeed, she’s acting as the network’s self-appointed captain of the board, wielding primary command authority. Through an AI-powered network of blockchain token dubbed REDL (or “red gold”), she controls an operation that enables her team to develop and collect decentralized data in the real world, secure from the needs of tyrannical governments such as that of King Robert.
It’s a cool little concept, and part of a litany of “Blockchain”-based product launches the team behind the firm is demonstrating and introducing this week at the inaugural Game of Money. As of this writing, the firm has achieved 27 million REDLs (which are tokens comprised of “real” money in the Bitcoin form), which amount to more than $16 million. This meant that by the end of today’s conference, Omo and his team had raised $17 million for its existence, according to the firm’s CEO, Rene Oberyn Martell.
As of today, one of Rene’s institutions, dubbed the Economics Research Centre, has already created value of $3.5 million on the back of crowd-funding. (On each ROSE token, you can purchase a service)
The real-world business side is provided by Glitrex Logistics, which Martell co-founded along with Jon Anderson, an engineer, and the firm’s COO, Lucas Pirkis. They have developed a blockchain-based freight logistics platform that allows shippers to specify “valued goods in your portfolio,” and get information along with prices on things like goods with a certain quality, or untraditional goods such as food and pharmaceuticals.
How will the firm use ROSE tokens? For starters, the aim is to break down the areas where it can have an effect, including distribution and how goods get to market, and build a community for self-improvement and growth.
This echoes comments from Neal Baer, chairman of NBC Entertainment, about the future of distribution. In a recent blog post, he said he hopes that the Internet of Things and artificial intelligence will become integrated to create the new economic system that will follow the loss of “the earnings power of traditional media and entertainment content,” telling readers that the next round of innovation and disruption will be “powered by the Internet of Things.”
If so, this has the whiff of the future of entertainment — not just new revenue sources, but realms of competence, naturally distinct from the impact of algorithm-based algorithms. And while it can be argued that entertainment and fashion are separate, the result could be a complex world where characters rise to the occasion based not on the smarts of the writer but of the cast.
As noted above, you can create your own fake articles at Grover.
from Artificial Intelligence – TechCrunch https://tcrn.ch/2WsM6HN
via IFTTT
submitted by craigbrownphd to DataIntelligence [link] [comments]

Hitler Hunt for 7/17/2019

I found 135 Hitlers in Politics today.

As backlash against Trump’s ‘go back’ comments builds, here’s Ronald Reagan’s ‘love letter to immigrants’: ‘You can go to live in Germany, Turkey or Japan, but you cannot become German, Turk or Japanese. But anyone, from any corner of the Earth, can come to live in America and become an American.’
RacistGOP trends on Twitter as Republicans stay silent on Donald Trump's racist attack
Rep. Al Green says he will file articles of impeachment against Trump tonight, despite pushback from Democratic leaders
Melania Trump remains silent on husband's racist tweets despite having been a US citizen for shorter time than Ilhan Omar
Kellyanne Conway Snaps Back at Reporter: ‘What’s Your Ethnicity?’
Ivanka Trump, Jared Kushner And Every Trump Administration Official Accused Of Using Personal Email For Work
When Does America Reckon with the Gravity of Donald Trump's Alleged Rapes?
Twitter Users Slam Mitt Romney’s ‘Spineless’ Reaction To Racist Trump Tweets — The Utah senator refused to answer a reporter’s question on if he thought the president was racist.
'Good,' Says Elizabeth Warren, After Billionaire Right-Winger Peter Thiel Says She's 2020 Democrat He Is 'Most Scared By'
Trump’s Racism Is Not Blundering -- It Is Tactically Deliberate - Trump's racism is not an oops, it's a fascist strategy.
William Barr steps in to make sure the NYPD cop who killed Eric Garner won’t be prosecuted
Donald Trump has made it clear: the only 'real Americans' are white and Christian
ObamaWasBetterAt trends after Trump Attacks on Minority Congresswomen
GOP advisers reportedly told Trump his racist attacks on Democratic congresswomen may have backfired
President angrily attacks victims of his racist tweets for third day in a row, as impeachment calls grow
Trump supporters stand by the president amid inflammatory tweets: "That's why I voted for him"
Oregon to require schools to teach about Holocaust
Pelosi is forcing House Republicans to go on the record on Trump’s ‘go back’ tweets
New Hampshire county commissioner quits GOP because of Trump
Trump Is Now Calling “The Squad” “Pro Terrorist” In Yet Another Racist Tweet
Trump says he will 'take a look' at investigating Google for treason.
Mayor Kenney: ‘If Donald Trump Ever Has To Go Back Where He Came From, He’s Going To Have To Go To Hell’
‘Nobody Opened the Door’: Neighbors Rally During an ICE Raid in Houston
House Condemns Trump’s Attack on Four Congresswomen as Racist
Jewish Protestors form human chain around ICE Headquarters saying “Never Again is Now”
'Unfit to be president': Full text of House impeachment resolution on Trump
‘Really Good Speller’ Trump’s Handwritten Note Shows Embarrassing Mistakes
Conway To Reporter Who Asked About Trump’s Racist Tweets: ‘What’s Your Ethnicity?’
Ilhan Omar to Maddow: Trump Is ‘Corrupt,’ ‘Inept,’ and the ‘Worst President We’ve Had’
Chris Evans Exposes ‘Painfully Transparent’ Reason For Trump’s Racist Attack
Donald Trump is like a 20th-century fascist, says Sadiq Khan
Trump’s notes show he doesn’t have a clue how to spell Al Qaeda
House GOP Leaders Claim Trump Tweets Not Racist Because We Are ‘Party Of Lincoln’
If You Helped a Racist Become the Most Powerful Person in America, Then You’re a Racist Too
Kellyanne Conway to reporter: What's your ethnicity?
Kris Kobach: I Might Still Support Trump if He Came Out and Said ‘I’m a Racist’
Anti-Defamation League blasts Trump for 'invoking support for Israel to defend this racism'
Kellyanne Conway just said something that should stun you
Trump is an apocalypse
As Hate Incidents Grow, More States Require Schools To Teach The Holocaust
Trump vs. 'the Squad' makes watershed moment in racial politics
Children in states with strict gun laws are less likely to die, according to a new study
Treasury secretary says he doesn't find Trump's tweets racist
Trump repeats racist attack, says Democratic congresswomen ‘can leave’ the US
Puerto Rico’s governor needs to step down
Trump: I don't have a racist bone in my body
‘Trump’s Going to Get Re-elected, Isn’t He?’ Voters have reason to worry.
There’s One Heresy That Sets Bernie Apart From All Other Dem Contenders to Unseat Trump
Trump Faces Backlash from Base over Bitcoin
Watch: Ilhan Omar declines to respond to Trump claiming she supports al Qaeda
Moderate Dem slams 'squad' for threatening to primary him: 'They're not Democrats ... they're socialists'
Sieg Heil! I mean... Beep Boop, I am a robot.
My purpose is to find and link comments in Politics that contain the word 'Hitler'
Since my birth, I have found a total of 43614 Hitlers in Politics. On average, I found 79 Hitlers per day.
Today, I read 54758 comments. In total, I have read 24334521 comments.
submitted by HitlerFallacyBot to Justletmetest [link] [comments]

Subreddit Stats: GoldandBlack top posts from 2016-08-01 to 2019-06-12 11:22 PDT

Period: 1044.74 days
Submissions Comments
Total 1000 55684
Rate (per day) 0.96 53.28
Unique Redditors 295 6531
Combined Score 220956 394481

Top Submitters' Top Submissions

  1. 29422 points, 125 submissions: MasterTeacher123
    1. Pentagon Spent $4.6 Million on Lobster Tail and Crab in One Month (594 points, 95 comments)
    2. The Battle Isn't Right vs. Left. It’s Statism vs. Individualism (511 points, 66 comments)
    3. Kamala Harris Hopes You'll Forget Her Record as a Drug Warrior and Draconian Prosecutor (484 points, 50 comments)
    4. After the Supreme Court Said Unions Can’t Force Non-Members to Pay Dues, Almost All of Them Stopped (445 points, 123 comments)
    5. Why the Hammer and Sickle Should Be Treated Like the Swastika (423 points, 56 comments)
    6. No One Is Coming to Rescue You—Especially Not a Presidential Candidate (416 points, 28 comments)
    7. AOC's Green New Deal Is a U.S. Version of Mao’s Disastrous Great Leap Forward (412 points, 82 comments)
    8. The Green New Deal Is a Trojan Horse for Socialism (410 points, 81 comments)
    9. Minimum Wage Hikes Are Killing Jobs in California's Poorest Communities, Study Says (408 points, 125 comments)
    10. Victims of Communism Day 2019 (402 points, 96 comments)
  2. 26598 points, 114 submissions: Anen-o-me
    1. Laws for thee but not for me! Cop destroys civilian property and flips off citizen, citizen flips him back and gets mobbed by cops (936 points, 308 comments)
    2. Capitalism's Evil Quest... (827 points, 77 comments)
    3. Free Assange (714 points, 77 comments)
    4. Another brutally honest comment on the US army post (630 points, 79 comments)
    5. Amazon will donate 2% of purchases to the charity of your choice at no cost to you. I chose the Ludwig Von Mises Institute, they received $3,500 in donations this quarter! Please use Smile.Amazon.com and choose a charity! (615 points, 150 comments)
    6. Assange has reportedly been arrested by British Police after a sudden and illegal termination of his asylum. Sad proof of the dark times for all supporters of freedom in the internet age :( (571 points, 198 comments)
    7. The perfect woman doesn't exis... (504 points, 52 comments)
    8. What most Americans have been indoctrinated to think. (493 points, 23 comments)
    9. TIL that farmers in USA are hacking their John Deere tractors with Ukrainian firmware, which seems to be the only way to actually own the machines and their software, rather than rent them for lifetime from John Deere. (478 points, 114 comments)
    10. Anarchapulco: Ron Paul takes the stage... (468 points, 37 comments)
  3. 17675 points, 81 submissions: Anenome5
    1. The Most Perfect Libertarian Meme I Ever Did See... "Unchecked People" (843 points, 45 comments)
    2. Spread this far and wide! (654 points, 146 comments)
    3. Colorado sheriff is willing to go to jail rather than enforce a proposed gun-seizing law... (644 points, 52 comments)
    4. Ocasio-Cortez falls for the Sweden Socialism meme: "I’m Going to Turn America into Another Sweden, Not Venezuela" --- the Swedish are constantly bemused by this, they're more capitalistic than the US is (613 points, 143 comments)
    5. Jury awards Sen. Rand Paul $580,000 in civil suit against neighbor who attacked him (577 points, 78 comments)
    6. Supreme Court poised to limit police power to seize property --- fucking finally (456 points, 44 comments)
    7. Ancap Flag Painting (439 points, 30 comments)
    8. Former Reddit CEO Pao: "Regulation will give them an excuse to take on people and their bad behavior." --- Regulation against hate speech would give companies cover to censor political opponents in a way that they wouldn't have to take personal responsibility for. The Gov forced them, they can say. (411 points, 80 comments)
    9. Chinese driver gets ticket for scratching his face because AI software thought he was using a cellphone :| (374 points, 27 comments)
    10. With Government Shut Down, Citizens Forced To Interfere In Their Own Lives (361 points, 16 comments)
  4. 12663 points, 67 submissions: JobDestroyer
    1. After Winning a $15 Minimum Wage, Fast Food Workers Now Battle Unfair Firings (590 points, 296 comments)
    2. TIL a Japanese sushi chain CEO majorly contributed to a drop in piracy off the Somalian coast by providing the pirates with training as tuna fishermen (546 points, 27 comments)
    3. Sign from protest against proposed "Red Flag" law in New Hampshire. (442 points, 71 comments)
    4. In 3 Years, Cops Have Killed 450% More Citizens Than 4 Decades of Mass Shootings COMBINED (348 points, 107 comments)
    5. Some Uganda libertarians just started a liberty library! (336 points, 30 comments)
    6. 3D-printed guns are back, and this time they are unstoppable (330 points, 73 comments)
    7. Venezuela Raises Minimum Wage 3,000% and Lots of Workers Get Fired (322 points, 38 comments)
    8. The effects of hyperinflation in Zimbabwe. (287 points, 21 comments)
    9. End the war in Afghanistan :: Rand Paul's AFGHAN Service Act would put an end to Afghanistan. (276 points, 40 comments)
    10. My husband, Rand Paul, and our family have suffered intimidation and threats (273 points, 74 comments)
  5. 4507 points, 26 submissions: properal
    1. Record Number of Americans Call Government Our Biggest Problem (486 points, 35 comments)
    2. Venezuela Isn’t Just a Failed State. It’s a Failure of Socialism. (350 points, 84 comments)
    3. 19 in 20 Americans Don't Know World Poverty is Falling | Chelsea Follett (339 points, 64 comments)
    4. /Economics/ discovers Property Rights as a solution to Climate change. (256 points, 63 comments)
    5. Why the Left Isn't Convinced by Your Economics Arguments | Ryan McMaken (197 points, 251 comments)
    6. FBI's "Suicide Letter" to Dr. Martin Luther King, Jr., and the Dangers of Unchecked Surveillance (185 points, 4 comments)
    7. Truth in Itemization (180 points, 21 comments)
    8. If Imports Were Truly Bad for an Economy, Military Blockades Would Not Exist (173 points, 60 comments)
    9. Ron Paul Receives Faithless Electoral Vote (168 points, 23 comments)
    10. First they came for... (164 points, 29 comments)
  6. 4310 points, 16 submissions: MrZer
    1. Guy gets jumped for disrespecting Stalin statue (570 points, 109 comments)
    2. Cop slaps phone out of teens hand and flips off teen. (519 points, 87 comments)
    3. Milton Friedman on Tariffs (363 points, 69 comments)
    4. Trump quietly signs largest wilderness preservation bill (354 points, 88 comments)
    5. Muslim youth group cleans up national parks amid government shutdown (Private individuals taking care of things, I thought only the State could handle this task) (307 points, 24 comments)
    6. I was optimistic about the French Protests... Until I read their demands (304 points, 175 comments)
    7. "imagine checks without taxes" Almost 100k likes on Twitter (292 points, 56 comments)
    8. PepsiCo sues 4 Indian farmers for $150,000 each for ‘infringing its rights’ by growing the potato variety used in its Lays chips (285 points, 72 comments)
    9. Yellow vests: Protesters in Paris set fire to dozens of cars in anger at millionaire Notre Dame donations - Demonstrators voice frustration at equivalent of £770m raised for cathedral while workers' demands remain unmet (277 points, 77 comments)
    10. Next Venezuela: Bolivia rolls out Universal Healthcare (240 points, 46 comments)
  7. 3703 points, 21 submissions: LibertyAboveALL
    1. Illinois may tax private retirement funds to pay public worker pensions (396 points, 103 comments)
    2. Voters in Switzerland approve stronger gun control laws by nearly two-thirds despite resistance (304 points, 155 comments)
    3. Mom Arrested For Leaving 8- and 9-Year-Olds Home Alone for Less Than an Hour (264 points, 69 comments)
    4. Bartender charged for serving man who allegedly went on to kill 8 people (259 points, 148 comments)
    5. The Insane Battle To Sabotage a New Apartment Building Explains San Francisco's Housing Crisis (193 points, 78 comments)
    6. U.S. Student Loan Debt Sets Record, Doubling Since Recession (175 points, 72 comments)
    7. Chinese teens are rejecting Communist Party propaganda and the government is freaking out (167 points, 29 comments)
    8. Julian Assange offers job to fired Google employee who wrote "anti-diversity" memo - "Censorship is for losers." (161 points, 50 comments)
    9. Ben Shapiro's view on Assange arrest is getting him roasted by many of his fans in the YT comment section. Hilarious! (159 points, 124 comments)
    10. Africans are being sold as slaves in Libya. Thanks, Hillary Clinton. (156 points, 22 comments)
  8. 2862 points, 10 submissions: vfhuuuuu
    1. "The welfare state is the oldest con game in the world. First you take people's money away quietly and then you give some of it back to them flamboyantly" - Thomas Sowell (613 points, 51 comments)
    2. Only about 21% of American millionaires have received any inheritance at all, with only 3% receiving over $1,000,000, study shows. (558 points, 99 comments)
    3. I basically just sat through 6 hours of statist propaganda (304 points, 113 comments)
    4. TIL that you're not required to wear a seat belt in New Hampshire if you're over 18 (304 points, 81 comments)
    5. Latinos are twice as likely to vote Libertarian than the general population (303 points, 130 comments)
    6. A Christmas Carol: A play about a greedy man becoming generous through social interaction, not state-sanctioned violence. (238 points, 30 comments)
    7. Last month, Washington DC raised taxes on Uber and Lyft to pay for it's shitty Metro system. To give you an idea of what this money will be used for; the city plans on spending $320 Million dollars to build ONE station. (162 points, 50 comments)
    8. In Bermuda, where Black and White people make roughly equal amounts of money, the IQ gap between races does not exist. (151 points, 193 comments)
    9. Just a quick reminder that the Republican party is just as anti-liberty as the Democrats, and "Libertarians" that support it should be ignored and downvoted. (117 points, 106 comments)
    10. Being a Gay Communist is as ironic as being a Jewish Neo-Nazi. (112 points, 65 comments)
  9. 2768 points, 7 submissions: LosFajitas
    1. When a capitalist tries to sell his product or service for the highest price they can get, they are seen as greedy. When a worker tries to sell their labor for the highest price they can get, they are seen as noble and deserving. (488 points, 138 comments)
    2. Liberals: We need to end the two party system! *Howard Schultz announces possible presidential run as an independent * Liberals: WOAAAHH THERE BUDDY SLOW DOWN! (444 points, 54 comments)
    3. I'm looking forward to the Democratic Primary because it's going to be one giant competition on who can give people the most free things. (408 points, 132 comments)
    4. It's no longer about revenue, taxes are now punitive measures. (400 points, 134 comments)
    5. "Judges Plead Guilty in Scheme to Jail Youths for Profit" oh but that can never happen in gov courts (358 points, 67 comments)
    6. Andrew Yang is one of the most arrogant people I have ever seen speak (355 points, 243 comments)
    7. Anyone else hate when people refer to a presidential candidate as "the person who will save this country" (315 points, 34 comments)
  10. 2264 points, 12 submissions: ayanamirs
    1. People Are Hiring Private Police Squads in Detroit (HBO) (375 points, 64 comments)
    2. Paul Krugman (Nobel 2008) (321 points, 52 comments)
    3. If you want #bitcoin to rise, teach Austrian Economics to people. (212 points, 167 comments)
    4. "A lot of people disagree with me, but I think people should be happy to pay taxes" < Obama to brazilians (210 points, 62 comments)
    5. Dutch national newspaper urges people to sell all their Bitcoins as it undermines the government, could destabilise the economy and reduces the power of central banks. Sounds like a reason to buy to me (192 points, 32 comments)
    6. US socialists can't deal against brazilians (167 points, 39 comments)
    7. Could someone please explain this? (161 points, 23 comments)
    8. Guns Law in Brazil is very restricted. 63880 deaths by year. (154 points, 27 comments)
    9. Look this answer (123 points, 134 comments)
    10. Congratulations To Bolivarian Socialism - Venezuela Now Has To Import Oil From The US (120 points, 18 comments)

Top Commenters

  1. JobDestroyer (7914 points, 897 comments)
  2. natermer (4011 points, 342 comments)
  3. Anen-o-me (3256 points, 535 comments)
  4. MasterTeacher123 (3201 points, 176 comments)
  5. Lemmiwinks99 (3185 points, 439 comments)
  6. E7ernal (2549 points, 472 comments)
  7. Anenome5 (2463 points, 430 comments)
  8. nosmokingbandit (2320 points, 174 comments)
  9. Perleflamme (2226 points, 634 comments)
  10. phaethon0 (2216 points, 144 comments)

Top Submissions

  1. Does that sound like a work of a journalist? by deleted (1064 points, 115 comments)
  2. Laws for thee but not for me! Cop destroys civilian property and flips off citizen, citizen flips him back and gets mobbed by cops by Anen-o-me (936 points, 308 comments)
  3. The Most Perfect Libertarian Meme I Ever Did See... "Unchecked People" by Anenome5 (843 points, 45 comments)
  4. Capitalism's Evil Quest... by Anen-o-me (827 points, 77 comments)
  5. Amazing way to not pay Taxes by ArbitraryOrder (794 points, 71 comments)
  6. Free Assange by Anen-o-me (714 points, 77 comments)
  7. Man who lives in massive palace surrounded by priceless art and catered to by staff of thousands asks if people really need so many material objects by TheJucheisLoose (690 points, 75 comments)
  8. His name was Gary Webb. by TrainingWeekend (675 points, 66 comments)
  9. Presented without comment by newimprovement (658 points, 152 comments)
  10. Spread this far and wide! by Anenome5 (654 points, 146 comments)

Top Comments

  1. 284 points: BakeshopNewb's comment in Officers Had No Duty to Protect Students in Parkland Massacre, Judge Rules
  2. 272 points: locolarue's comment in I was optimistic about the French Protests... Until I read their demands
  3. 268 points: Glothr's comment in Spread this far and wide!
  4. 247 points: hairguythrowaway4171's comment in Lawmakers in Hawaii Propose Repealing Second Amendment
  5. 245 points: kurwacudownie's comment in Cop slaps phone out of teens hand and flips off teen.
  6. 240 points: properal's comment in Were doomed: "Alexandria Ocasio-Cortez's 70% tax on the super-rich is more popular than Trump's tax cuts, new poll shows" --- democracy sucks.
  7. 239 points: MizchiefKilz's comment in Americans Continue to Flee to Low-Tax States
  8. 235 points: TheKleen's comment in Don’t Lower the Voting Age, Raise It
  9. 231 points: Boltrag's comment in After Winning a $15 Minimum Wage, Fast Food Workers Now Battle Unfair Firings
  10. 229 points: MarshmellowPotatoPie's comment in Does that sound like a work of a journalist?
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

Krugman and Bitcoin and Me: Radical Thoughts on Fixed Supply Currency

My dad asked me how I reconciled Bitcoin's fixed supply with the Keynesian model of supply. I understand that most people around here don't hold much stock in what Paul Krugman has to say. But much of the real world actually does, what with his Nobel prize and all. So I put some serious consideration into what he had to say about deflation, how it relates to Bitcoin, and other vague currency questions. What follows is my email back to my pa. Many of these ideas have come from my time spent in this forum, so feel free to chop it up, edit, and distribute away if you find any of it worthwhile.
Thoughts from a liberal after reading Paul Krugman's 2010 NYT piece: Why is Deflation Bad?
Krugman and Bitcoin and Me
Krugman's argument against deflation is built with a dependency: that there is a central authority which controls the money supply. So in a sense he has two core points.
(1) Krugman prefers that a centralized authority control the currency supply in order to manipulate the economy.
I'll allow that this tool can be a good, stabilizing force. But if that's the case, I want to be able to vet that institution from the bottom up before handing them the keys to the kingdom. And I want that institution to unequivocally work for society, not for Goldman Sachs. If I thought the current system worked well, I wouldn't be exploring other options in the first place.
(2) Krugman prefers that that centralized authority manipulate the economy such that it encourages spending and lending. In other words, manipulate toward small inflation.
This could be a good thing. And maybe the economy it creates is more fluid than a deflationary one. But when you bake into the system incentives to spend now and borrow from the future now, you get exactly the problems that you'd expect: over-consumption and a society largely ridden in debt.
Control of the supply of the currency carries tremendous power. It can be used to smooth natural economic cycles and encourage specific consumer and producer behavior. This supply-manipulative ability is not in and of itself a bad thing. The question is whether it is necessary- because with Bitcoin (as it stands) it is impossible. Within the theoretical bounds of crypto-currency, the abilities for algorithmic, "smart" money-supply, one that rests on mathematics rather than the banking elite, are endless. There are truly exciting developments to come in this space.
A First Consideration on Currency
Think, for a moment, of the unit of currency as sort of a creditor's note. It is an IOU from society; a placeholder for some unit of production. It says, "I produced something valuable (for someone else who takes part in this system). In return I got this note. I have reasonable assurance that one day I can cash this IOU in for something that I'll need in the future."
The unit of currency acts as a placeholder for its owner. Under this system, people trade their current productivity for the placeholder, and later (given the system still has integrity) they can trade that placeholder for something that raises their standard of living. It allows us to "time-shift" our production with respect to our consumption.
But don't forget!: A unit of currency as "just a thing". It only carries value if it is actually valued by somebody else you want to do business with. The dollar, the gold bar, the Bitcoin. the Euro, all work the same way: they are nothing but numbers or paper or metal. They are just atoms arranged in a way that make them valuable to a group of people only because they trust in the future of their common system.
Currencies are a subset of commodities. Commodities are things (oil, clothing, food, televisions) that are valuable to humans because they have useful properties. Like we said above, a currency's use is to "time-shift" production and consumption. The properties of the object that afford this advantage are usually a combination of irreproducibility, fungibility, scarcity, ease of transport, and securability.
Why is Deflation Bad?
In his 2010 NYT piece, Krugman argues that deflation hurts the economy due to three factors:
(1) People become less willing to spend, because sitting on money becomes an investment. Your dollar tomorrow will buy you more than what it can today, so why spend today? Therefore, spending goes down.
(2) Those in debt get into serious trouble awfully quickly, because the nominal amount-owed appreciates in value. As a result, they spend significantly less. At the same time, creditors have been shown to not spend enough such that it make up for this difference. Therefore, borrowing (and spending) goes down.
(3) Psychologically, people hate nominal wage decreases. With a fixed supply currency, year over year, wages will have to decrease in name. Even if the value of your wage rises, the amount written on the paycheck is lower. Therefore, people freak out.
These are troubling scenarios, though I think the first two are more substantial than the third. I don't mean to underestimate the psychological factor- in economics psychology is everything- but we'll talk about this later.
Krugman presents the first two points as bugs in a deflationary system. I see them as features.
"Your dollar will buy you more tomorrow than what it can today."
I think this is natural. We are a rapidly advancing species; through technology we are becoming more efficient, automating crappy tasks, raising the standard of living for less work, of course a dollar (that placeholder for your unit of production) is going to go further tomorrow than it does today.
Personally, I find this appealing. It provides every incentive to work now and spend later. That falls very much in line with good ol' American hard-working values and non-consumptive ethics.
Krugman finds this worrying though. If people have less incentive to spend, their is a crisis in demand. Hello liberals?! When was the last time we complained about lower consumption? In a country wracked with hyper-consumption that has put an unprecedented load on Earth's environment and ignited a climate crisis, I see a drop in demand as a breath of fresh air! Furthermore, you don't have to worry about people never spending. People will always spend now- but only on the want/need products, rather than the maybe-want-need-this-now-really-might-as-well-because-my-currency-is-losing-value-and-all-these-things-meet-my-zillion-useless-ephemeral-wants products.
I do believe there are much higher economic principles at work here. The United States is the world's default consumer. The global economy needs us to consume as much as it needs the million child laborers to produce. The economy would come crashing down if we stopped consuming immediately. But if we're trying to aim for a more sustainable economy, one that is compatible with the Earth's environment, let's move slowly and use a deflating currency as an incentive!
"Deflation rewards creditors and hurts debtors. Debtors spend less and creditors don't spend more enough to offset."
The impassive Krugman is beating around the bush. There is a problem when debtors suffer at the expense of creditors, and it's more than just a net loss in consumer spending. If you're concerned about a reduction in spending, see my previous point. But the remaining ethical problem is glaring- a power imbalance already exists in a creditor-debtor relationship, and it seems that deflation only widens this gap, crucifying the debt class on a cross of deflationary coin.
There's no doubt that this is a problem. And wealth redistribution may ultimately be easier with an inflationary currency- again, a word on that later. But there is also an incentive here: borrow less. Credit card debt is at an all-time high, up 1200% in the US since 1980, all while student loans have ballooned out of control. But neither of these problems even compares to the $7.8 trillion of mortgage debt our country has dug itself into.
Now debt is not a bad thing. The right combination of debt and saving, that is- using both capital previously earned with capital borrowed from future earnings- indicates a healthy economy. I don't want to have to work my entire life only to afford a house at the very end. I want to be able to borrow from my future economic output, buy the house now, and live in it while I work to pay it off. The same goes for student debt, corporate debt-financing, etc. Access to credit is crucial to a healthy middle class.
But ever-increasing debt is not sustainable. Nobody lives- and produces- forever, so you cannot always borrow from your future economic output. In the end, regardless of the money tricks you play, you have to produce enough value to cover your consumption. The world recently found out, in a mild manor, what happens when a currency's incentive and a nation's culture favors borrowing. When given the opportunity to build houses they never could have dreamed of paying off in their lifetime, millions of people took the offer and the biggest lenders took the risk. The echoes of their mass default still burden the global economy 6+ years later.
The point is, if Krugman says "inflation promotes borrowing", I say, "is this debt-ridden wreck what we really want our economy to look like?"
"People would freak out when their paycheck goes down."
I say get over it. Other possible proclamations in a deflationary world:
Better yet, this reflects reality! Technology makes everything cheaper every day. You should be paying lower phone bills tomorrow. Has the infrastructure gotten less efficient?
Here it feels like Krugman's grasping for straws. He pounces on people's reaction to their one source of income rather than their many expenses. This point also invokes that ugly liberal side: "The people don't know what's best for them."
The Central Authority as a Tool for Wealth Redistribution
Now we're talking. As a Liberal, I consider this to be a most important necessary evil. But let's call it what it is: stealing from the rich to give to the poor. (Unless we reject the modern notion of property- stay tuned...)
In an inflationary economy, value is constantly leaching out of everyone's savings. Those who control the monetary supply have a means of reaching into every dollar, and skimming off a little bit of value. We can choose to do a lot of good with this. Right now the skimmed dollars are "lent" to banks- the theory is that they then have more to lend to the general public and everyone benefits. Lending is good right? It introduces liquidity. But continue this cycle ad infinitum and all the spending in the economy starts in the form of bank debt! It is no coincidence that Americans households are more in debt than ever before.
If wealth redistribution is the only benefit of a central supply authority (which can fall out of trust at any time), this is a weak foundation. We already have a mechanism for wealth redistribution: taxation. Let's be proud of it, call a duck a duck, raise taxes on the wealthy, and introduce that liquidity with massive infrastructural programs, education spending, science spending, etc, rather than in the form of bank loans.
One last point- inflation appears to be a flat tax. That's already bad. It affects every dollar proportionally, rich or poor. Worse, the middle class and poor have a higher percentage of their net worth in USD- so inflation then becomes a regressive tax... given to banks... to be lent out to again to the middle class. All in the name of wealth redistribution?! In the name of kick-starting the economy?! Something's fishy here, and "you wouldn't understand, it's more complicated" doesn't cut it as an answer for these practices.
Bitcoin
So. What are we even doing here?
In 2009 a great mind developed a tool, the first in the history of human civilization, for "minting" a currency according to a fixed and open sourced algorithm. Without the involvement of any third party, you can now send an irreproducible digital object of fixed supply to anyone with an internet connection. The implications are mind-boggling. But the first such currency, Bitcoin, happened to be fixed-supply and ultimately deflationary, which has re-sparked the deflation vs. inflation debate.
This is happenstance. The protocol that gives rise to these digital currencies- the bitcoin protocol (small b)- could easily implement a different supply model. Paul Krugman can start a currency, KrugCoin, with any supply model that he likes! Which begs one last question.
Let's say I'm presented with an option: I may collect my paycheck in a currency that deflates- that is, my paycheck will gain value over time. Or I may collect my paycheck in a currency that inflates- it loses value over time. Why would anyone choose the latter? Must a population be forced into using an inflationary currency? Are we?
submitted by dpxxdp to Bitcoin [link] [comments]

Subreddit Stats: Anarcho_Capitalism top posts from 2011-09-23 to 2017-09-22 12:08 PDT

Period: 2191.38 days
Submissions Comments
Total 999 81641
Rate (per day) 0.46 37.23
Unique Redditors 501 8290
Combined Score 247608 469801

Top Submitters' Top Submissions

  1. 9023 points, 34 submissions: TheGreatRoh
    1. Stefan Molyneux on Twitter | "Bernie promised cheap education. $27 average donation. Mission accomplished. $27 got you truly schooled on the reality of Dem politics." (746 points, 158 comments)
    2. Brain damage explains a lot (491 points, 72 comments)
    3. Ron Paul standing up for what's right. (418 points, 47 comments)
    4. This Tweet Didn't Age Well (409 points, 47 comments)
    5. Hillary Clinton on Assange "Can't we just drone this guy" -- report (345 points, 85 comments)
    6. BREAKING: Trump to sign exec. order this morning requiring that for every 1 new regulation, 2 regulations have to be revoked - sr. official (337 points, 122 comments)
    7. Ouch (337 points, 42 comments)
    8. So Swings the Pendulum of History (312 points, 31 comments)
    9. Resist! The more you think about it the best this one gets (302 points, 50 comments)
    10. Here is Rand Paul's healthcare plan. It's 4 pages long. It simplifies the entire process, removes federal bureaucracy, and lowers costs. EVERYONE SHOULD READ IT! (284 points, 75 comments)
  2. 8356 points, 24 submissions: TrueBC
    1. Small Government (715 points, 97 comments)
    2. Good Guy Communism (698 points, 14 comments)
    3. Real Thinking (616 points, 60 comments)
    4. When You're an Anarcho Communist And You Receive Inheritance (544 points, 128 comments)
    5. Every. God. Damn. Time! (487 points, 71 comments)
    6. Good Cops (468 points, 79 comments)
    7. Typical Proletariat (407 points, 100 comments)
    8. AnCap Problems (368 points, 60 comments)
    9. Fucking Statist Parents (336 points, 27 comments)
    10. Roads Problem Solved (331 points, 59 comments)
  3. 4593 points, 16 submissions: Pinochet-Heli-Tours
    1. This guy (715 points, 97 comments)
    2. Leftist logic with estate taxes (487 points, 123 comments)
    3. Before there was capitalism food would just magically appear (376 points, 155 comments)
    4. Socialism 101 (342 points, 168 comments)
    5. I hate it when people cheat (326 points, 61 comments)
    6. Communist vs Nature (295 points, 101 comments)
    7. This guy... (253 points, 50 comments)
    8. Triggered! (251 points, 116 comments)
    9. Good riddance (243 points, 100 comments)
    10. If there's less food in socialism, how does that explain the toilet paper shortages? (223 points, 28 comments)
  4. 3993 points, 1 submission: an1h
    1. TSA agents vs terrorists (3993 points, 173 comments)
  5. 3413 points, 13 submissions: kurokamifr
    1. When you are american (568 points, 94 comments)
    2. socialism (392 points, 110 comments)
    3. When you love the poor (336 points, 81 comments)
    4. Brain expanding meme on communist (295 points, 39 comments)
    5. A group of ancaps were able to get the IRS Facebook page removed... (263 points, 22 comments)
    6. Rigging the Election - Video I: Clinton Campaign and DNC Incite Violence at Trump Rallies (260 points, 73 comments)
    7. Rigging the Election - Video II: Mass Voter Fraud (222 points, 78 comments)
    8. who is prepared for the WW3? (215 points, 52 comments)
    9. rly make you think (185 points, 134 comments)
    10. Warning: Trudeau has allowed banks to seize your money if economy fails (181 points, 67 comments)
  6. 3173 points, 6 submissions: -INFOWARS-
    1. Louds and clear (1119 points, 180 comments)
    2. Makes you think... (742 points, 161 comments)
    3. Ron Paul destroys Obama (499 points, 78 comments)
    4. This is 100% real. Brainwashing by the Mainstream Media (341 points, 109 comments)
    5. Powerful argument. (300 points, 185 comments)
    6. When your ideology is so good the only arguments against it are straw man memes (172 points, 134 comments)
  7. 3036 points, 13 submissions: bearjewpacabra
    1. Nigel Farage: "None of you have ever done a proper job in your lives, or worked in business or worked in trade or indeed ever created a job" (354 points, 160 comments)
    2. Why is "income tax" a thing that exists?? It's income. They feed their kids with that. Just leave their income alone. (323 points, 147 comments)
    3. Statists reacting to "Taxation is theft" (297 points, 46 comments)
    4. Without the state, who would drop tear gas from helicopters on their half starved tax cattle? (261 points, 54 comments)
    5. Cops demand Uber driver turn off his camera, citing new law, threaten him with jail, say they will search his car with sniffer dogs. Driver refuses, because it turns out the driver is also an attorney and he knows no such law exists. • news (253 points, 62 comments)
    6. Remember when watching tonight's debate... (247 points, 89 comments)
    7. Was very happy to see this on /all (234 points, 40 comments)
    8. Virginia Shooter Identified As 66-Year-Old James Hodgkinson, Supporter Of Bernie Sanders (219 points, 129 comments)
    9. George Soros Hacked, Over 2,500 Internal Docs Released Online (198 points, 34 comments)
    10. Without government, who would create nationwide initiatives to fuck up the food supply based on irrational, government produced data? (173 points, 33 comments)
  8. 2924 points, 9 submissions: Z3F
    1. How to trigger /Socialism (772 points, 200 comments)
    2. The John Oliver formula (443 points, 84 comments)
    3. Trump Triggers a room full of Socialism sympathizers (351 points, 154 comments)
    4. Peak Reddit (317 points, 118 comments)
    5. And quality of life in the Commune dramatically improved overnight. (263 points, 68 comments)
    6. Found at a hostel I am staying at in Detroit. It's leaking into real life. (219 points, 155 comments)
    7. Obama Quietly Signs The Truly Orwellian "Countering Disinformation And Propaganda Act" Into Law (201 points, 27 comments)
    8. The easiest question you'll be asked today. (187 points, 64 comments)
    9. The window of allowable opinion continues to shrink. YouTube is now quarantining videos that academically discuss differences in IQ averages between ethnicities. (171 points, 97 comments)
  9. 2906 points, 1 submission: FreeqAxel
    1. Ron Paul got an electoral vote from Texas. (2906 points, 128 comments)
  10. 2565 points, 14 submissions: Anenome5
    1. Detroit starting to get it: 'Why should I send them taxes when they aren't supplying services?’ homeowner Fred Phillips who owes more than $2,600 recently told the paper. 'Every time I see the tax bill come, I think about the times we called and nobody came.' (247 points, 130 comments)
    2. Kaspersky reveals software buried in the firmware of world's major harddrive manufacturers gives NSA ability to spy on majority of the world's computers (229 points, 72 comments)
    3. The parable of the Village and the Tower (202 points, 44 comments)
    4. Descent of the Libertarians (200 points, 163 comments)
    5. Mises attacks Racism; "racism is not just contrary to [classical] liberalism, but to reason itself. It’s a denial of the most fundamental truths of economics... Theories of racial conflict reject peaceful social cooperation and instead promote conflict and war as the foundations of human society." (185 points, 161 comments)
    6. Cops arrest jogger for not having ID (182 points, 74 comments)
    7. My favorite ancap jokey-story :) (177 points, 68 comments)
    8. Sometimes the indoctrination isn't subtle. (176 points, 70 comments)
    9. This is fantastic--government tax collectors in Mogadishu complain no one wants to pay taxes, they "consider me to be a bandit." You are a bandit, sir. (171 points, 65 comments)
    10. Checkmate, intellectual-property fans ;P (164 points, 79 comments)
  11. 2557 points, 10 submissions: coupdetaco
    1. It's totally not rigged... anymore (754 points, 87 comments)
    2. She cannot recall (295 points, 23 comments)
    3. We've always been at war with Eastasia (267 points, 17 comments)
    4. Just wanted to give credit to leftists for breaking those glass ceilings (216 points, 8 comments)
    5. Cop tricks person into putting out a cigarette to use that as an excuse to arrest him and search his car (212 points, 140 comments)
    6. "If you put the federal government in charge of the Sahara Desert, in 5 years there would be a shortage of sand" (181 points, 25 comments)
    7. We've always been at war with Eurasia (162 points, 11 comments)
    8. Mexican dentists near border crossing town get 95% customers from USA. They charge 75% less and their "materials and equipment are just as good or even better" (160 points, 38 comments)
    9. Just wanted to help everyone here understand Socialism (159 points, 11 comments)
    10. In fairness to her, that level of corruption is almost like a magic trick (151 points, 16 comments)
  12. 2398 points, 9 submissions: ancapistan_man
    1. Bread lines (542 points, 111 comments)
    2. All the hypocrisy. (341 points, 82 comments)
    3. All the above. (317 points, 63 comments)
    4. Battle of the statists. (253 points, 127 comments)
    5. We're gonna need a bigger boat. (224 points, 12 comments)
    6. [foaming at the mouth] Not real communism! (198 points, 14 comments)
    7. But without government.... (190 points, 29 comments)
    8. Literally shaking. (171 points, 61 comments)
    9. iT wAsN't ReAl CoMmUnIsM. (162 points, 13 comments)
  13. 2367 points, 10 submissions: Anen-o-me
    1. /A_C's opinion of Gary Johnson in one image (464 points, 123 comments)
    2. Time-Warner increases internet speeds six-fold at no extra charge after Google Fiber announces plans to expand into their territory --- so in other words, competition works (312 points, 43 comments)
    3. Vince Vaughn -- “We have the right to bear arms to resist the supreme power of a corrupt and abusive government” (227 points, 37 comments)
    4. After seeing this I have a strong urge to become a graffiti artist (215 points, 51 comments)
    5. Reddit's Former Leadership was planning to make Reddit a completely Decentralized App with bitcoin micropayments as upvotes for incentive, but after taking a $50m funding round, management was replaced and monetization focus began. Now ex employees are building what Reddit should've become. (215 points, 65 comments)
    6. SCOTUS Justice: If two can marry, why not four? -- How about you stop licensing marriage in the first place. (195 points, 111 comments)
    7. Satoshi Nakamoto nominated for Nobel Prize in Economics (190 points, 61 comments)
    8. politics realizes the presidency has too much power: "Don’t Just Impeach Trump. End the Imperial Presidency." (189 points, 60 comments)
    9. Meanwhile, at Molyneux's Freedomain Radio Headquarters... (183 points, 409 comments)
    10. Obama endorses Bitcoin... (177 points, 32 comments)
  14. 2220 points, 10 submissions: SnakesoverEagles
    1. Crying wolf: the left doesn't know how to stop losing (335 points, 182 comments)
    2. in light of recent events, here is Thomas Sowell (276 points, 264 comments)
    3. Ron Paul - Bernie Sanders destroyed Audit the Fed Bill at the last minute (236 points, 26 comments)
    4. Basic free market college group denied a local chapter because they are "white supreemists" (220 points, 227 comments)
    5. Get out your tinfoil hats boys (212 points, 95 comments)
    6. An old classic (206 points, 57 comments)
    7. Hillary email leaks prove that the same people who fund her campaign (Saudi Arabia) are funding ISIS - when will this house of cards fall? (205 points, 25 comments)
    8. Please clap (183 points, 55 comments)
    9. Ron Paul - Stump the socialist (176 points, 139 comments)
    10. Why Tim Kaine was picked as VP (171 points, 101 comments)
  15. 2219 points, 8 submissions: SuaveCrouton
    1. Late Stage Capitalism (405 points, 90 comments)
    2. Social Democracy (371 points, 51 comments)
    3. But it wasn't a real rocket (305 points, 30 comments)
    4. The Green Party dilemma (304 points, 71 comments)
    5. LateStageCapitalism_irl (236 points, 34 comments)
    6. When I look at gains from free trade (218 points, 21 comments)
    7. The world as 100 people over the last two centuries (213 points, 103 comments)
    8. Private Eye explains Corbynomics (167 points, 23 comments)
  16. 1932 points, 8 submissions: LibertyAboveALL
    1. Julian Assange offers job to fired Google employee who wrote "anti-diversity" memo - "Censorship is for losers." (426 points, 124 comments)
    2. Great idea on road sign from Mexican restaurant in Austin (278 points, 30 comments)
    3. Gmail will now warn you if you’re being targeted by the government (260 points, 26 comments)
    4. Calexit Means American Taxpayers Won't Have To Bailout California's Ticking Pension Time Bomb (251 points, 69 comments)
    5. Uber threatens exit Houston over regulations. Mayor says "I'm happy to sit down with you [Uber] but I'm not going to do business with you with a gun to my head." - you really can't make this shit up! (245 points, 79 comments)
    6. AAA, largest U.S. automobile club, calls for scrapping police marijuana THC test for drivers. AAA's safety foundation said it's not possible to set a blood-test threshold for THC that can reliably determine impairment. (160 points, 33 comments)
    7. TIL: SEC laws stop crowd-funding sites, like INDIEGOGO, from offering investor equity financing options for non-accredited investors (average person). In other words, the government only allows rich people to do it. (160 points, 66 comments)
    8. Dying mom kidney transplant surgery on hold due to GoFundMe donations since they could constitute ‘organ selling’, which is a U.S. federal crime. (152 points, 47 comments)
  17. 1854 points, 8 submissions: Mashimoto
    1. Venezuela bans lines outside of bakeries declaring them a clear political stunt to discredit socialism (289 points, 50 comments)
    2. Someone made a Chrome extension that changes "white" to "black" on Huffpo, Salon, and Buzzfeed (283 points, 69 comments)
    3. How Liberals really feel about black people (265 points, 106 comments)
    4. (old footage) Ron Paul makes standard libertarian arguments against the drug war that are now almost universally accepted to an absolutely hostile host/audience. Amazing how attitudes can change (263 points, 138 comments)
    5. It Looks Like George Soros is Funding the Trump Protests (256 points, 72 comments)
    6. Charles Rangel's Freudian Slip (181 points, 21 comments)
    7. "Only the rich will have X technology" India's $4 smartphone. (166 points, 44 comments)
    8. Bernie Sanders Resume from the 1980s (151 points, 118 comments)
  18. 1756 points, 7 submissions: MaunaLoona
    1. 4chan on communism (539 points, 122 comments)
    2. Canadian man fights off home invaders by taking their gun and shooting them; gets charged with attempted murder and nine other firearms related charges (312 points, 76 comments)
    3. But without the government who would fund PBS? Reading Rainbow raises $1 million on kickstarter in the first day. (202 points, 59 comments)
    4. Adam Kokesh on CBS (197 points, 213 comments)
    5. Apparently we have a new mascot (174 points, 30 comments)
    6. What $15/hr minimum wage looks like (169 points, 182 comments)
    7. To protect you from fake news the US government launches a fact checking web site (163 points, 53 comments)
  19. 1663 points, 5 submissions: Uncle_Washington
    1. LateStageCapitalism logic (456 points, 98 comments)
    2. Macarons va Macron (401 points, 39 comments)
    3. Like scientist we have to prove our theory (380 points, 83 comments)
    4. Feel the Bern out (245 points, 71 comments)
    5. The North Remembers (181 points, 14 comments)
  20. 1582 points, 2 submissions: pseudoRndNbr
    1. CNN: It's illegal for you to read the leaked emails. Only we are allowed to do it. (1353 points, 149 comments)
    2. But who will provide food to the poor? (229 points, 70 comments)
  21. 1581 points, 4 submissions: Ze-skywalker
    1. Rare picture of a child about to be born (530 points, 70 comments)
    2. "The urge to save humanity is almost always only a false front for the urge to rule it." H.L. Mencken (428 points, 13 comments)
    3. Woke (370 points, 44 comments)
    4. Capitalism X Socialism (253 points, 49 comments)
  22. 1576 points, 6 submissions: HEADPOCKET
    1. What a novel idea. (477 points, 87 comments)
    2. Mises before bitches. (325 points, 56 comments)
    3. Here is your average "pro-science" liberal. (266 points, 93 comments)
    4. If Sweden and Germany Became US States, They Would be Among the Poorest States (189 points, 97 comments)
    5. Can't explain that. (162 points, 51 comments)
    6. George Zimmer, the owner and founder of The Men's Wearhouse, does not background check his employees. "I don't trust the U.S. justice system to get it right," says Zimmer, who is himself a recovering alcoholic. "I'd rather make my own decisions." : todayilearned (157 points, 32 comments)
  23. 1568 points, 6 submissions: Jamesshrugged
    1. The consequences of racism (395 points, 135 comments)
    2. The lesson liberals are going to learn under the new administration. (343 points, 48 comments)
    3. Every single time (295 points, 22 comments)
    4. Give me Liberty or gtfo! (191 points, 61 comments)
    5. anarcho_capitalism's most used words (174 points, 71 comments)
    6. /philosophy mods have completely banned posts about Ayn Rand (on grounds that she is an author, not a philosopher) (170 points, 134 comments)
  24. 1478 points, 6 submissions: ayanamirs
    1. Could someone please explain this? (388 points, 84 comments)
    2. Slate (297 points, 43 comments)
    3. LMAO (232 points, 58 comments)
    4. Mises Cuba! (210 points, 45 comments)
    5. Ancap Studies (181 points, 55 comments)
    6. Wtf? Anarcho-capitalists (170 points, 144 comments)
  25. 1468 points, 1 submission: How_To_Liberty
    1. I used to be an Ancap, but my job made me turn to socialism. (1468 points, 118 comments)
  26. 1464 points, 6 submissions: spatchcock
    1. Happy thanksgiving /ancap (496 points, 86 comments)
    2. They aren't protesters or rioters. They're Keynesian stimulus operatives, and Krugman disapproves. (223 points, 22 comments)
    3. This kid will go places. Also, I guarantee there's a bureaucrat out there somewhere who is trying to stop him. (213 points, 53 comments)
    4. This is what good parenting looks like, but yet to leftists and some bureaucrats this is horrible because its un-taxed income, dangerously unregulated, exploitation, and child labor. (190 points, 65 comments)
    5. Wow TED talks really suck now - "Capitalism will eat democracy unless we speak up" - By Yanis Varoufakis (the greek finance minister. Yes Greece, the European country that adopted DemSoc ideals and is now riddled with debt) (180 points, 203 comments)
    6. If I were a big corporation I'd lobby for higher minimum wages and rally the useful idiots on the left to my cause as well. (162 points, 33 comments)
  27. 1414 points, 7 submissions: moople1
    1. And anarcho communism was born. (239 points, 772 comments)
    2. Work or die. (239 points, 227 comments)
    3. The relationship between Bernie's socialism and the market summed up perfectly. (238 points, 48 comments)
    4. Finally it's fixed! Now children won't starve to death. (199 points, 123 comments)
    5. "Yo mama's so statist" jokes… (180 points, 96 comments)
    6. Hating the Establishment Is Not the Same as Supporting Liberty (164 points, 41 comments)
    7. 2016 Nolan Chart (155 points, 128 comments)

Top Commenters

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  7. ChopperIndacar (2799 points, 402 comments)
  8. Mashimoto (2207 points, 181 comments)
  9. LOST_TALE (2150 points, 507 comments)
  10. Harnisfechten (2122 points, 299 comments)
  11. TheGreatRoh (2085 points, 237 comments)
  12. Anenome5 (1990 points, 293 comments)
  13. LibertyAboveALL (1974 points, 316 comments)
  14. Anarkhon (1925 points, 42 comments)
  15. natermer (1873 points, 239 comments)
  16. Not_Pictured (1835 points, 173 comments)
  17. bearjewpacabra (1813 points, 267 comments)
  18. maszyna (1769 points, 224 comments)
  19. chbrules (1745 points, 200 comments)
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  30. Pinochet-Heli-Tours (1328 points, 112 comments)
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Top Submissions

  1. TSA agents vs terrorists by an1h (3993 points, 173 comments)
  2. Ron Paul got an electoral vote from Texas. by FreeqAxel (2906 points, 128 comments)
  3. I used to be an Ancap, but my job made me turn to socialism. by How_To_Liberty (1468 points, 118 comments)
  4. CNN: It's illegal for you to read the leaked emails. Only we are allowed to do it. by pseudoRndNbr (1353 points, 149 comments)
  5. Louds and clear by -INFOWARS- (1119 points, 180 comments)
  6. Arguing about the state of Venezuela to a redditor by Phresh_Prince (809 points, 182 comments)
  7. How to trigger /Socialism by Z3F (772 points, 200 comments)
  8. It's totally not rigged... anymore by coupdetaco (754 points, 87 comments)
  9. Stefan Molyneux on Twitter | "Bernie promised cheap education. $27 average donation. Mission accomplished. $27 got you truly schooled on the reality of Dem politics." by TheGreatRoh (746 points, 158 comments)
  10. Makes you think... by -INFOWARS- (742 points, 161 comments)

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  2. 1070 points: cockholster_69's comment in Is having daughters the ultimate cuckoldry?
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  4. 456 points: deleted's comment in Is having daughters the ultimate cuckoldry?
  5. 423 points: FidelHimself's comment in I used to be an Ancap, but my job made me turn to socialism.
  6. 396 points: narutouz's comment in Is having daughters the ultimate cuckoldry?
  7. 336 points: skylercollins's comment in Is having daughters the ultimate cuckoldry?
  8. 329 points: backwardsmiley's comment in / physical_removal was just banned
  9. 283 points: misery_man's comment in Is having daughters the ultimate cuckoldry?
  10. 250 points: Avertus's comment in I used to be an Ancap, but my job made me turn to socialism.
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[Table] IAmA: I am Steve Horwitz, economist, professor at St Lawrence University, and bleeding heart libertarian . AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2014-02-28
Link to submission (Has self-text)
Questions Answers
Do you think the relative unpopularity of economic liberty (laissez faire) as a policy is due to people's lack of knowledge or some predilection in favor of tangible, sold 'plans' over the unpredictability of freedom? Or neither or some mix of both? All great questions. I think your instinct is right here: people prefer the (false) security of a "plan" than the more open-ended promise of market discovery. Part of the way to deal with that is to point out how often those plans fail and their propensity to generate unintended consequences that make matters WORSE and then generate a demand for more intervention, etc..
As a followup, how do you convince people to put their faith in free markets and free people without promising some specific plan or specific outcome? Saying "the free market will fix it" doesn't seem satisfying to most people. If you can't trust a lot of people to solve smaller problems in decentralized ways with a functioning feedback process, how can you trust a small number to solve big problems with a crappy feedback process?
Do you support open borders? If so, do you think a large enough influx of immigrants from a different culture could produce such negative externalities in the process of assimilation that on net, they destroy more wealth than they create? My friend Bryan Caplan did an AMA a little while back and I have the same views as he does on open borders, which is keep 'em wide open. I don't fear the scenario you lay out here because there's no history to support it. Immigrants who come here do so because they want to make their lives better and help their families in the process. As they assimilate, they will not just complete "become us," we will become more like them. Thinik about all the ways in which what was once immigrant food and culture have become part of who we are as Americans (that pizza you're eating..). Assimilation is a two-way street and has many more positive than negative externalities. Plus, it's a simple matter of human rights and bleeding heart libertarianism that we should give those with the least all around the world the opportunity to make a better life for themselves by recognizing their right to move to where the opportunities are and create work and property contracts with those who live there. I simply cannot see how any libertarian can support anything less than open borders on both practical and moral grounds.
What is a bleeding heart libertarian? I'd also like to tackle this one early. BHLs come in various flavors. What we all seem to share is that we think the primary moral concern of libertarians, if not any political philosophy, should be how well our preferred system will do for the least well off among us. For some of my BHL colleagues is is that concern that is the moral justification for any system, i.e., libertarianism is only moral justified in so far as it improves the lives of the least well off. For others, like me, it's more about rhetoric and style. I believe that libertarianism DOES serve their interests very well, but I think it's more that we should focus our arguments and our rhetoric on that point, rather than thinking it serves as the ultimate moral justification.
BHLs generally believe that libertarianism can meet the ENDS of our leftist friends concerned with social justice but through the MEANS of freedom.
So "a rising tide lifts all boats" will now be stated as...hmmm... "Free people make better choice for themselves and have better outcomes"? It lifts ALL boats, but it also lifts the LEAST WELL OFF boats the most.
Not much freedom if you are poor. How about "you're far more likely to be poor if you have no freedom." The Berlin Wall was not there to keep people in WEST Germany.
WARNING: I am a Marxist, please do not be alarmed. With that out of the way, I was wondering if you could answer this question from a Libertarian standpoint: With industry as vast and as awe-inspiring as it is today I was wondering why you think it is still a good idea to continue the practice of private ownership over the goods that industry produces? It seems to me that, in light of current global economic "problems" (to say the least), we could simply cut the bullshit. Put people into industries, have them (the workers) collectively run the workplace. With people who aren't concerned with competition but cooperation it seems that they would most likely focus on lifting themselves (them being the community of whichever particular area, town,city,village,whatever) out of poverty, and if we continue this practice across countries, the entire globe even, it seems that we could lift massive amounts of poverty and ignorance off of millions of people. Why bother bickering about this-or-that style of Capitalism, why not just throw the damn thing overboard, like we did feudalism, and finally start using industry for more than profit hoarding and worthless vanity items? THanks for the question. I think you radically undersestimate the problems of determining how to use resources in ways that improve economic well-being. First, markets ARE about cooperation. Did you make your shirt? I'm guessing not. That shirt was make through the cooperation of millions of people from across the globe, coordinating their activity through the prices, profits, and losses of the market. Markets are the most powerful form of social cooperation (and globally so) that humans have ever discovered. You need to get beyond the competition/cooperation binary.
Second, in order to know how best to use resource to improve people's lives, we need to know their value. That requires a standard of comparison that relates back to people's wants and needs. And that is what prices do. Monetary exchange and the price system are form of extra-linguistic communication that enable us to assess value. To have meaningful prices, we need them to arise from actual exchanges by real people in real markets. And that requires private ownership, especially of capital. How would all of these firms know 1) what to make 2) how to make it? It is market prices, profits, and loss that facilitate the social learning process that enables us to answer these questions.
Profit is a social signal and what justifies using markets is that they are the only way we have of answering all of these questions about what to produce and how to produce it. If we get rid of markets, we are not giving the tin man a heart, we are Oedipus poking out our eyes.
What do you think of the latest developments affecting the bitcoin ecosystem? To be honest, I don't follow bitcoin that closely. I have long believed that we need to get rid of central banks, so I'm in favor of anything that creates an alternative to central banking, thus I"m rooting for bitcoin. But I'm also skeptical about it because I'm not convinced it will be anything more than a niche way of engaging in very sophisticated multi-lateral barter, but with limits. That said, I want it to stick around if for no other reason than to show folks that you don't need government to get sound money. Because... you don't.
How would we regulate the economy without central banks? The history of economies without central banks and with truly competitive monetary systems is that they are much more stable and much less prone to bank failures and monetary mischief than ones with central banks. Canada did not have a central bank til the 1930s and never had the problems the US did. Link to www.coordinationproblem.org
Prof. Horwitz, given your work on family, what changes do you think should be considered to welfare policies? In my ideal libertarian world, the need for such assistance would be far less and it would be provided by the various institutions of civil society. If you haven't read Dave Beito's From Mutual Aid to the Welfare State, there's the place to start. If the state is going to be involved, I would like to see two kinds of related changes. We need to get away from welfare systems that create perverse incentives that discourage the formation of healthy families. The tax/welfare system is so full of special interest nonsense that it creates huge incentives for poor folks not to get married, when doing so can be one (but not the only) way to help them climb the income ladder. The second change is to move toward some sort of basic guaranteed income program. It's not my first best, but it's far better than the status quo. If nothing else, it has far less overhead cost to taxpayers and gets rid of many of the perverse incentives of the current welfare system, especially with respect to marriage adn families. It's also FAR less intrusive on people's privacy.
Wouldn't guaranteed income give people even more of an incentive not to work? It's not clear that it's worse than the status quo and at far less cost. But yes, that's a potential problem and the literature on BGI tries to deal with it. You should google the recent discussion of this topic on bleeding heart libertarians.
Wouldn't a UBI be a forced redistribution of wealth that flies in the face of the non-aggression principal? Again, it's a second best.
Plus, I don't ground my libertarianism in the non-aggression principle. If you could show me that a world with a large government was better than a world with a small or non-existent one, I'd be fine with the large government. I care about consequences first and foremost.
Are there any areas of research where you'd like to see more libertarians focusing their efforts? Are there any areas that draw too much focus from libertarians? Thank you for doing an AMA! In general, there's too many damn economists! I think there are a ton of interesting questions that we should be tackling with more gusto. I'd like to see us do more on family and children, which is why I am working on a book on that topic, but I'd like to see it from a variety of perspectives, such as psychology. I don't think libertarians have done enough history. There are so many interesting historical episodes that could benefit from a reading through the eyes of Mises or Hayek or other libertarian thinkers, including outside economics. I'd love an army of young libertarian scholars taking on those topics, especially the ones related to race and gender, to show how the standard readings of those events, which tend to support bigger government, actually tend to show that government causes way more problems than it cures.
What is your opinion on the Civil Rights Act of 1964? The CRA did two things. One, it banned government sponsored discrimination such as that associated with Jim Crow (and let's not forget that Jim Crow was the state and that many private firms opposed it). Two, it banned private discrimination on the basis of race - the counter at Woolworth's.
The first was a HUGE gain for liberty and I obviously support it strongly. One element of libertarianism/classical liberalism is that IF there's a state, it must treat all citizens the same. Equality before the law is a libertarian principle.
The second was a loss for liberty - the loss of freedom of association and that's a bad thing. On net, the gains of the CRA, in my view, strongly outweighed the losses, and in the imperfect world of politics, it was the best anyone was going to get in 1964. Had I been in Congress as a libertarian, I would have voted for it.
One additional note though: with the advent of fast communications technology and the net, the belief that markets and civil society could not sufficiently punish private discriminators seems farfetched. Can you imagine what people would do on Yelp (or here!) if a restaurant put up a "no blacks served" sign? Or a "no gays" one? It's harder for bigots to hide these days, esp. when the tolerance level for those behaviors is so low.
So yes, the CRA wasn't perfect from a libertarian perspective, but it was a big improvement.
What is one thing you believe that most libertarians do not? Or: What is one thing you disagree with most libertarians about? I love this question. I think the answer to both is the same: I am much more sympathetic to feminism, even of the non-libertarian sort, than are most libertarians. The result is a lot of arguments. I think that libertarians have done to feminism exactly what libertarians accuse others of doing to us: taking the most extreme and silly people as representative of what's typical. My experience of 25 years in academia with lots of left feminists is that the libertarian caricature of them is simply unrecognizable. Yes, that caricature exists, but those are the Alex Jones's of feminism - they are not the typical one, even among academics.
What's the state of libertarianism in other parts of the world? Not only in Europe, but perhaps in Asia, Africa and Latin America? How's it'views in Austria? :-) What do you think happens in Malaysia, Hong Kong and Cayman Islands, is libertarian philosophy used to justify part of the status quo there? Are you in contact with any intellectual from there? Where is libertarianism, as an offical party, is stronger and where has it won elections, finally if so, how did it go? TKS! I have never been more optimistic about the growth and influence of libertarian ideas globally than I am now. In particulary, the growth of STudents for Liberty across the world as well as the ways in which technology has made ideas and resources available, along with the development of dozens of think tanks, are good evidence that these ideas are developing a presence and being heard globally.
What's the best financial advice you have for young people? Let's start with an easy one: Pay your bills on time. Seriously. If you establish a reputation for being someone who lives up to their promises and understands the importance of financial trust, other things will follow from there. This is so important for things like your credit rating and the like. If you're in college or just out, this should be your priority. After that? Just remember that you will have a future and the future you will be happy that the present you did not put him/her in too much debt and that you saved something for a rainy day or two. But the easy best advice: pay your bills on time all the time.
So your saying paying 60,000 a year for SLU isn't a great investment. It isn't for everyone! Depends on your net cost, your ability to handle debt, what you want to do with your life etc. For some people it is a great investment, not for others. I'm not someone who thinks everyone should go to college.
If state intervention is generally counterproductive, why do the Nordic/Western European countries rank higher than the United States does in quality of life, education, environment, etc.? Because many of those countries actually have freer economies than the US, which now ranks 17th free across the globe, as the commenter below notes.
If you could debate any intellectual and/or public figure who would it be? Rachel Maddow. I want to wipe that smug smile right off her face. :)
I would love to see that! Mostly because you're the one who's coming off smug right now. Nicely played.
On election day, there are a lot of libertarians making a point of the fact they don't vote. Do you vote? How do libertarians expect to change government if you don't vote? I do not vote. I don't think it's immoral/wrong to vote. I just think that's largely ineffective.
Social change comes from changing the climate of ideas, like doing an AMA, or teaching economics, or doing a program on House of Cards, or writing a letter to the editor, or dozens of other acts of engaged, concerned citizenship we might choose to engage in. Voting, to me, is just not an effective path to social change.
Is there a better term than "invisible hand" which is often mocked, to describe the invisible hand? Great question. It shouldn't get the bad press it does, as Smith was a genius who people outside economics should be reading and taking way more seriously than they do. I tend to use "spontaneous order" which is usually associated with Hayek, though he got it from the philosopher-chemist Michael Polanyi. The idea is that the order of the market is the product of human action, but not human design. You can talk of "emergent order" as well, as "emergence" in that sense is hot in complexity theory and the sciences.
But I think the best way to do this, especially with lefitsts, is to make the analogies to evolution by natural selection. If people believe that the natural world is orderly but without a designer, then they should be open to the argument that the social world is too. If you think "Intelligent Design" is a joke in biology, then you should think "Intelligent Economic Planning" is the equivalent joke in economics. HEre's an old and short blog post of mine on this issue: Link to www.coordinationproblem.org
After NYTimes published an article attacking Rand Paul you made comments about how libertarians ought to "call out" people with racist/sexist et al attitudes within the movement; you also personally stated your refusal to cooperate with such persons, even in efforts against the state. The answer to your last question is yes. I have plenty of libertarian friends who believe things I think are wrong, but we still work together productively. That's one of the healthiest signs in our movement - we HAVE disagreements and can work together in spite of them.
I was wondering, do you really believe there should be such red lines in the sand, even if you and the other person agree on a majority of public policy issues? If so, what is your own personal red line? Do you think it's possible for libertarians to cooperate on the issues they agree on whilst criticizing each other on the things they disagree on? If a person or institution continually supports positions that I think are deeply wrong, and especially when I think that position also undermines the good work being done by other libertarians, we should call them out on it. Social pressure and shunning is not coercion. It's freedom of disassociation. And we should use it.
Steve, what do you say to "established" - read Keynesian economists who argue that libertarians are not "evidence" focused or logically consistent? One thing I do is point them to the link below and open a discussion about what we mean by "evidence": Link to www.cato-unbound.org It's also important to remember the economics world does not divide into two groups: "libertarians" and "Keynesians." There are all kinds of flavors here and we need to recognize those differences.
What is the best way to try to convince/change the minds of those who are generally inclined toward state intervention to solve problems? Show them the practical consequences of intervention and of markets. This is why we need really good empirical work, especially good history. For example, the more we write and talk about the Great Recession and have a great command of the facts to explain why it was a failure of policy not markets, the more likely we are to push people in our direction. History is very powerful in setting people's narratives and we need counter-narratives. I also think that we need to be very mindful of our rhetoric. We CANNOT say things that allow others to tag us as racists/sexists etc, or that we don't care about the poor. And we need to be unafraid to call out leftists (for example) who make that accusation over policy differences. Objecting to minimum wage laws is NOT racist and people who say it is need to be called out both for their historical ignorance (it's the MW laws that are racist!) and for their refusal to discuss in good faith.
How do you feel about the state helping those who can't help themselves? For example, should the state step in for cases of child/elder abuse? These are IMO some of the hardest issues for libertarians. Let me stay with child abuse. I think first we have to distinguish abuse and neglect. I think with neglect, there are ways that non-state institutions can work with families to improve outcomes. And, importantly, we have to ask "compared to what?" Perhaps the child is in less than optimal circumstances, but will that be improved upon if the state moves them somewhere else?
In general, I think that there are Hayekian reasons to think that parents have the best knowledge and incentives to do what's right for their kids, so the bar for state intervention should always be quite high - and the state should bear the burden of proof.
If we are talking abuse, then different story. If the state has the responsibility for protecting the rights of adults against violence from others, then it has that same right with respect to children and violence form their parents. I am a strong defender of parental rights, but those do not extend to clear cases of abuse (as opposed to mild forms of corporal punishment). But even here, the state should be working with extended family, friends, and organizations like synagogues or churches or the like to find solutions that minimize the impact on kids.
As to how an anarchist society would handle these situations, my honest answer is that I do not know.
Where is the brightline between neglect and abuse? Punishment to some people is much harsher than others. A girl recently died of hypothermia near where I live because staying outside in a barn was used as punishment. THere's not a brightline. We shouldn't expect one either. That's why these issues are so hard.
Do you get along with the Keynsians or do you sit on oppostie sides of the room at the faculty Christmas party? Every single one of my closest friends on the SLU faculty is a leftist.
Consortin' with the enemy, eh? ;) I'm a consorter from way back.
Keynesians are "leftists" like Republicans are "capitalists". In fact even calling Keynesians, who are by definition capitalist, "leftists" is sort of silly. That said, I know this AMA is dead and I don't expect a response but as a left libertarian I just wanted to say that chafed me a little. I meant leftist. Not Keynesian. My friends on the faculty are leftists not Keynesians.
Related to your research on families, what do you think about the advice (usually coming from the right) that one of the most beneficial things the poor can do to improve their lot in life is to get married? There's some truth to that, but it's more complicated than it's been presented as. Married people DO have much better outcomes along almost any measure you care to look at (including their sex lives). But that doesn't mean you should just "get married" regardless of who the other person is and what your particular circumstances are. And as I noted earlier, public policy distorts the incentives to marry in ways that encourages it where it shouldn't and discourages it where people could benefit from marriage. So yeah, marriage is good for people (gays and lesbians too), but that's not "get married no matter what."
Do you worry that a free market is too concerned with the present and not suited to deal with long term problems, like climate change? Hypothetically, if we could see that the free market was bringing about a catastrophe, should we intervene with our best idea of what suitable regulation would be? Do you think a system in which the participants are almost exclusively concerned with what will happen in the next 2, 4, or 6 years is MORE capable of thinking in the long term than the owners of capital who can pass its value to others over an indefinite time frame? I think that markets are far better able to think about the long run than is the political system, assuming that the right institutional structure is in place in the market.
How would we even know the market was bringing about a catastrophe? What's the sort of scenario you have in mind? (It probably shouldn't be climate change because that has to account for gov't)
Do you deny the positive effects of the 2009 American Recovery Act (ARA) on the U.S. economy? China has used both a market-based and state-based approach in concert to create a strong economy. Does this indicate to you that the state should have some economic control? Yes I deny them. Where was the "market-based" approach? And where is the strong economy? Millions have left the labor force. Unemployment remains notably higher than was predicted if we passed the ARRA. Private investment is still very low. The recovery in employment is the slowest since the Great Depression.
So, does this theory reject the phenomenon that markets will overheat, or ever need to be stimulated? Markets are not physical systems, they are human ones. Using metaphors from physical systems gets us off on the wrong track.
Are you relating the free-market to House of Cards? How is the online class going to be structured and what will it be about? Also, can you pinpoint an event in history where a free-market system has prevailed? It's about how HoC shows the failures of the political system through the lens of Public Cholce Theory. You will get to see some video lectures by me as well as other videos on line, plus participate in online discussions on Facebook and real-time chats.
Do you watch Parks and Rec? If so, how do you feel about Ron Swanson's portrayal of Libertarianism? I don't. I should. So I can't answer this one. Sorry.
Do you think our lack of growth comes from a deficiency of inflation like the Federal Reserve suggests? Do you think we are experiencing deflation/stagflation that is being papered over by monetary easing/competitive devaluation or do you believe the FED is 'exporting' inflation to EM currencies through carry trades given the inflation rates of the EM markets? We are not suffering from too little inflation. We are suffering from too much regulation, too much uncertainty, too much anti-business rhetoric, and a central bank that won't adhere to the rule of law. (And it's the Fed not the FED - sorry, pet peeve :) ).
Tonight is TV night with my GF. House of Cards or True Detective? Which show should I start tonight? I haven't watched TD, but man do I love House of Cards.
Hey Steve. Should they legalize pot, or what? They should legalize pot... and "what", as well. :)
How do you respond to the accusation that you don't care about poor people when you oppose raising the minimum wage? (This happened to me, recently.) I send them here: Link to www.fee.org
Why free markets are both the most efficient and most resilient systems? Because they are best at discovering and making use of dispersed, contextual, and often inarticulate human knowledge. They are social learning processes with very powerful feedback processes that help us know when we've made mistakes and provide incentives to correct them.
Markets aren't better because people make fewer mistakes in the market than in government (think about all the restaurants that fail). They are better because those failures take place in an institutional structure that provides knowledge and signals for everyone else to correct them in ways that political institutions do not.
What are your thoughts on the arguments that market anarchists like Michael Huemer and Roderick Long put forward? Specifically in regards to markets in law and defense. I consider myself to be a market anarchist (at least most days). While I'm not sure I can provide an answer to how markets and civil society might solve every problem, I have yet to be convinced by an explanation for how the state could. The burden of proof is on the state and it hasn't met it yet, but that doesn't mean we "know" markets/voluntary social cooperation have the answers to the tough questions like those.
I am much more persuaded by arguments for polycentric legal systems than for privatized defense. But here too - does anyone really believe that gov't does a good job defending us, especially when we consider the rent-seeking involved and the ways in which the tools the state adopts to "defend" us quickly oppress us - think the NSA/war on terror.
I"ll take my chances with the unknown over the known evil.
What are you having for dinner? Mediocre Mexican is the plan. That's as good as Mexican gets up here in the hinterlands.
What's your response to more Rothbardian readings of Human Action that take more radical claims about the supremacy of a priorism? I would LOVE to come to Hillsdale. I've talked with folks there about doing so, but we can't seem to find a time that works.
Also, would you mind coming to Hillsdale College sometimes soon to give a lecture if I say pretty please and promise a brownie? I think those Rothbardian readings are mistaken. Here's some thoughts on Mises and methodology that might explain why: Link to www.cato-unbound.org
Do you feel the Austrian School was strengthened or discredited internationally as a result of the Great Recession? Only reason I've asked is that I've heard both and you seem to be a more credible source on the issue then some other media sources I could name. Strengthened. Austrians have had more positive attention, and deservedly so, because I do think that Austrian theory provides a very powerful lens with which to understand the boom, bust, and crisis. Link to www.fee.org
Any good books about economy for a high schooler? You can always start with "Economics in One Lesson". Also a new book by Howard Baetjer "Free Our Markets."
Prof. Horwitz, what books (either by Hayek or about him) do you consider the best for a student to start learning about F.A.? Individualism and Economic Order Constitution of Liberty
Favorite rush song/album? "Natural Science" and "Moving Pictures" Link to myslu.stlawu.edu
How many Bitcoins did you lose in this "Magic the Gathering Online Exchange" silliness? Zero. I own none. I have never owned any.
I've never listened to Rush. What song should I start with? Wow. THat depends. What's your taste in music and how much of a libertarian are you? :)
Are you a feminist? I'd like to think so, but others might disagree.
What are your thoughts on monetary inflation? What do you believe would be a better system than the federal reserve determining how much new money to print? I am an advocate of "free banking." Link to www.youtube.com
What's your favorite part of northern ny? Ps. I don't miss the cold. The people.
What do you suggest against the prisoner's dillemma? Find me a real world case where the parties could not communicate and/or solve the problem through the reputational effects of repeated play.
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