June 29, 2003

More socialism. Bartley endorses Mundell's madness -- and provides the bonehead remark of the week:

A world money would be an extraordinary boon to international stability.

Anybody ever heard of competition? It's the thing markets are for, and the market for money and time needs competition perhaps more than anywhere else.

Here is the mathematical economics on this: Central Banking + World Government = idiocy squared, then cubed.

Posted by Greg Ransom