Monday, March 13, 2006

Another Aggie on LRC

It sure is nice to see some Aggies getting published on Morgan Reynolds has written some outstanding articles for LRC, check out his latest: Rainbow $10 Bills.

Contrary to statist myth, money is not an invention of the state. Money is the most marketable (most "liquid") commodity and it’s a natural result of the democratic market process. Only the private market can deliver quality money. Separation of money and state, not "better monetary policies," is the ultimate political goal.

An interesting secret is that we the people are not obliged to use the Fed’s paper money. We can lawfully use any money that is mutually agreeable in daily exchange. Silver and gold are real commodity money, although gold is too pricey for most trades. Silver is affordable, at least for now (it just topped $10 an ounce).

And now a newcomer from Texas A&M graces the pages of, Joshua Katz:

For their essays, I had them analyze a case I found in the CNN archives. This case involved a Grumman engineer who was arrested for selling American defense technology to the governments of eight countries. The technology was a special propulsion system for bombers that allows the plane to not be detected by radar. I gave a general assignment, having them write about the ethical issues raised. I was appalled, although not entirely shocked, by what they wrote.

Many students equated this engineer’s actions with murder, for various reasons. One rationale offered was that the governments of the other countries might use this technology to bomb the United States, causing the loss of American lives. True enough, but where were the expressions of outrage over the American government designing these planes, to be used in bombing innocent people in other countries? This is Texas A&M – these students are not hippy anti-war types, to say the least. Although it is correct that dropping bombs on people is murder, I see something obscene in this fact being recognized by war supporters, but only in reference to other nations. When the United States performs these actions, they are "humanitarian" or "liberating."


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