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To: ConservativeInPA

I always liked his explanation of how a pencil is made.


22 posted on 05/04/2013 4:20:49 PM PDT by Rusty0604
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To: Rusty0604

Which was an excellent analysis of the true power of market forces and market knowledge, a power that bureaucracies and agencies can never imitate and can never dictate to successfully.

However, throw into that description of the bewildering complexities of all the industries and market agreements and exchanges to make a pencil that you allow a small group of people on the outside of that industry to dictate the value of the currency being used at every exchange point and giving them the ability to vary the easy or difficulty in obtaining capital and credit because of the interest-rate policy and quantity of money in that same market, and you begin to get an idea of how Monetarism is completely antithetical to Friedman’s excellent analysis and support of free markets.


38 posted on 05/04/2013 4:55:21 PM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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To: Rusty0604
I always liked his explanation of how a pencil is made.

How IS a pencil made?

57 posted on 05/05/2013 3:04:18 AM PDT by Hot Tabasco (This space for rent)
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