Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Cincinatus' Wife
The Venezuelan government shut off the flow of U.S dollars six months ago, instituting strict exchange controls to keep the local currency from plummeting amid an economic and political crisis that has seen the nation's gross domestic product shrink by about 10 percent in the past year.
An economy is controlled by communication. And whereas the traditional meaning of money is something real, pesos or dollars (Euros, whatever) are strictly units of information. Those units of information traditionally enable people to cooperate without knowing each other, and without bartering apples for automobiles.

I emphasize "tradition," but do not be deceived by that; the fact that you can understand what I have written is due simply to your (and my own) knowledge of the traditional meanings of words.

Price controls are mere censorship of of the language of cooperation, invidious and inimicable to free and voluntary cooperation.


2 posted on 08/13/2003 4:10:10 AM PDT by conservatism_IS_compassion (The everyday blessings of God are great--they just don't make "good copy.")
[ Post Reply | Private Reply | To 1 | View Replies ]


To: *Latin_America_List
http://www.freerepublic.com/perl/bump-list
3 posted on 08/13/2003 6:24:15 AM PDT by Libertarianize the GOP (Ideas have consequences)
[ Post Reply | Private Reply | To 2 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson