Real capitalism falling down drunk

[jamesd at echeque.com]

    --
On 7 Dec 2001, at 5:35, mattd wrote:
> The implicit coercion is the protection racket of the state
> lurking in the background and attempting to monopolies
> money.

Money in the US was largely privately issued until 1915.

Capitalism long predates government monopolies of money.

The word dollar comes from thaler, which a government stamped
ounce of silver -- but stamped by a minor government very far
away, one of many such stamping authorities.

James A. Donald:
> > Without property rights, the specialization of labor has
> > to take place by something very like a state telling
> > people what > they must do, and what they may consume.
> > Thus to suppress capitalism requires centralized terror,
> > and lots of it. Nothing less will suffice. Been tried."

mattd:
> Without property rights enforced by coercion by even the
> most minimal state

The state is the enemy of property, not the source.  Property
rights in the means of production not only continued to exist
without state support, where the state was absent, they
invariably continued to exist in the face of massive bloody
state violence aimed at crushing those rights.  Always, those
seeking to crush those rights had to escalate far beyond what
they expected, then escalate the violence even further.

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         James A. Donald
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