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Old 01-16-2004, 03:26 PM   #1
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Repudiating the National Debt
Murray Rothbard (writing in 1992) explains the relationship of public and private debt, what citizens are and are not obligated to pay, and why debts incurred by the government are not debts in the normal sense. They can and should be repudiated as a step toward fiscal sanity. "Although largely forgotten by historians and by the public, repudiation of public debt is a solid part of the American tradition."
http://www.mises.org/fullstory.asp?control=1423


Bandits and Loopholes
What is a loophole? For the criminal mind, writes Lew Rockwell, the lock on your door, the combination code on your safe, and the weapon your keep for protection are all loopholes you use to escape the work he wants to do. If he had his way, all these loopholes that permit you to maintain privacy and security would be closed forthwith. The result for him would be vastly more revenue.
http://www.mises.org/fullstory.asp?control=1422


Making Enemies
Beware of trade restrictions, writes N. Joseph Potts; they are often followed by war. Iraq is only one case. The United States embargoed sales of scrap iron to Japan before the war with that country began in 1941, and probably worse, secretly colluded with Britain, China, and the Netherlands (which at the time controlled oilfields in Indonesia) to deny petroleum resources to Japan, a step still cited today in Japanese accounts of the causes of its war with the United States.
http://www.mises.org/fullstory.asp?control=1413


Free Trade and Factor Mobility
The citizens of the US are not made richer by raising taxes or other barriers to foreign consumption goods, writes Robert Murphy, and this is true whether factors of production are immobile (as Ricardo assumed) or mobile. We should not fear the cost-cutting advancements in data transmission, or the improved skills and education of foreign workers. On the contrary, we should welcome these developments because they mean lower prices for imported goods and services, and hence a higher standard of living for Americans.
http://www.mises.org/fullstory.asp?control=1416
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