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     Libertarian Purity Test
    Opinion: Politics
    This is the Libertarian Purity Test, which is intended to measure how libertarian you are. It isn't intended to be any sort of McCarthyite purging device -- just a form of entertainment, hopefully thought-provoking.

    Despite my (relatively) low score, I still highly enjoyed Ayn Rand's book Atlas Shrugged and look forward to reading The Fountainhead.

    I am not entirely for the gold standard, which is a main tenet of Libertarianism. I will paraphrase Jevons: Mechanism of Money and Exchange:

    "This set of characteristics (1. utility and value, 2. portability, 3. indestructibility, 4. homogeneity, 5. divisibility, 6. stability of value, and 7. (re)cognizability) has its clearest and most pronounced manifestation in gold "

    Utility? I could not go down to the store and buy a carton of milk with an ounce of gold in any country I ever have visited. I could try, but the shopkeeper would have to convert it to the local currency. It would surely suffer greatly in conversion. But then, see below on stability.

    Portability? No one likes carrying change. Witness the struggle for the United States to try and foist a dollar coin on the public. I can not imaging going back to carrying sacks of currency around. What if it is in dust form? See the movie "Paint Your Wagon" for a dramatization of the portability of gold dust.

    Indestructibility? You can cut gold apart with common hand tools. True, it retains its elemental form in the smallest particles. But then see the note above.

    Homogeneity? Ask Archimedes about that. I don't want to have to check the density of each pack of change I get to see if it was cut with lead or silver. Who certifies the quality? Or is that now my responsibility?

    Divisibility? OK Can't argue with that (see above). But do I have to bring my own scale? And who certifies the shopkeeper's scales? Somebody will take a cut just to regulate them.

    Stability of Value? Sorry...basic economic blunder here. The value fluctuates with supply and demand like any other commodity. The countries that produce the gold will be wealthier, but the value of the gold will diminish as the supply of other stuffs shrink. Day 1 Econ 1 "The fish value of corn"

    Recognizability? Iron Pyrite...Need I say more?

    I also consider a stable government necessary to foster economic growth and opportunities for all. This current government enables me to make the money I do, and deserves some of it to improve the infrastructure.

    DO I agree with where it is all spent? NO WAY! But, if I want to micromanage it, then I should run for office...

    Posted on Thursday, March 01, 2007 @ 17:18:56 UTC by BB
    "Libertarian Purity Test" | Login/Create an Account | 0 comments
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