August 23, 2012
Not a whole lot to say since I'm swamped today, but I saw this article and thought of EE and JK. I hope you enjoy.
The Economist On Money and the State
Economics and Markets
Posted by Bryan at August 23, 2012 5:00 PM
All Hail Selgin! Especially enjoyed the close:
Yet I suppose that we will never see the end of the myth that only governments are fit to coin money. Were bread a government monopoly long enough, Herbert Spencer once remarked, people would react with horror to the suggestion that it might instead be supplied, and supplied with better results, by the private sector. Spencer was probably right. I'm just glad I'll never live to see The Economist prove it.