No, science means searching for truth instead of parroting what the establishment say.
you are missing out.
I’ll get to it.
“The defenders of government interference with the issuance of banknotes and checkbook money justify this policy by declaring that “free trade in banking is free trade in swindling.” The poor ignorant people must be protected, they say, against bad banknotes. But no one would be forced to take banknotes if they had not been declared legal tender by the government.”
“The essence of the market economy is that the economic actions of the individuals are not performed by order of the government but spontaneously by the individuals. This requires also that the money, the medium of exchange, be independent of political influence.”
(Mises, The Free Market and Its Enemies, p. 81)
I’ve never read Hoppe/Rothbard.
It doesn’t matter. I am more into Block than Hoppe, and Rockwell than Rothbard, but Giles will strawman you as being a fanboy of either whether it is true or not. Ironically, he was the biggest Hoppe fan boy ever for about 12 months. I mean, this is a guy who couldn’t stop referring to Hoppe or sourcing him. It was almost creepy.
But we’re all young once, and young people find heroes and move from passion to passion incorporating facets of each into a unique whole. When Giles rags on the LvMI community, it’s just because he is in his GMU/Boettke phase. Within a couple years, he will have moved on to something else.
Giles, may I suggest Kevin Carson?
Wow. Talk about out-of-context quotes.
What about this Adam ? http://mises.org/humanaction/chap17sec12.asp
It is a mistake to associate with the notion of free banking the image of a state of affairs under which everybody is free to issue banknotes and to cheat the public ad libitum. People often refer to the dictum of an anonymous american quoted by Tooke: “Free trade in banking is free trade in swindling.” However, freedom in the issuance of banknotes would have narrowed down the use of banknotes considerably if it had not entirely suppressed it. It was this idea which Cernuschi advanced in the hearings of the French Banking Inquiry of October 24, 1865: “I believe that what is called freedom of banking would result in a total suppression of banknotes in France. I want to give everybody the right to issue banknotes so that nobody should take any banknotes any longer.”
Selgin is a member of the LvMI community.