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I have now read the book.

It’s a very good book and I learned alot about the Greeks and Romans.

But I don’t understand what’s so special about the founding fathers?

According to the book they tried to learn from the ancients, but they had different opinions about the lessons among themselves.

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I just have ordererd “Greeks & Romans Bearing Gifts: How the Ancients Inspired the Founding Fathers ” via the internet.

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“Japan has a very serious problem. When we look back, Mr. Abe will have ruined Japan. Huge debt levels, horrible demographics, they won’t let in foreigners, the population is declining. Mr. Abe comes along and says he’ll ruin the currency. It is a disaster in the long term, and not guaranteed to work in the short term, either.” – Jim Rogers

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Porphyrogenitus,

Thanks for the video.

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Sons of Liberty,

I’m first going to finish ” Austrian Economics, Step by Step “, then I’m going to watch ” Western Civilization to 1500 ” and ” Western Civilization Since 1500 “

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Thanks mr Herbener.

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But this will not make Japan richer, because than they have to pay more for imports?

Also because of the inflation the money of the Japanese people has less value?

So it seems that the Japanese exporters are gaining at the expense of the importers and Japanese people?

” With money, if international currency speculators make more accurate anticipations than the man on the street, when the money stock is increased the currency tends to devalue in foreign exchange markets before its purchasing power goes down domestically. When that happens exporters gain a temporary advantage. ”

At whose expense do they gain a temporary advantage?

” As long as Japanese exporters sell their outputs in countries where the yen is devaluing against foreign currency and buy at least some of their inputs in countries where the yen is not depreciating commensurately, they would gain. ”

The free market makes both in free trade better, But one of the problems with government is that they make alot of times one group richer at expense of other groups?

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Thanks Mr. Herbener.

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Professor Herbener,

I have thought about it. So time preference decide the pure rate of interest ( basic rate of return ) and every line of production has the same rate of return otherwise there would be arbitrage.

So if the pure rate of interest is 5% than an investment in a line of production is also 5%, but within a line of production there are different returns on investments. So within a line of production there can be lower, same or higher rate of return.

So slavery is not less or more profitable than any other line of production at that time.

Is this right?

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Professor Herbener,

” The dynamic of the market tends to direct investment into different lines of production so that there is a tendency toward the same rate of return in every line of production ”

Why is there a tendency toward the same rate of return in every line of production? I don’t understand that. Aren’t some lines of production not more profitable than other lines of production?

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I think that monetary inflation makes commodities prices like for example food, oil and gold prices to rise.

I don’t think that speculation makes the food prices rise or fall.

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Sons of Liberty,

You make a good point that bad people will use government to to bad things. And because governments are big and powerfull they can do alot of damage.

Hitler, Stalin and Mao killed millions of people using there governments.

But I’m thinking more about a small government that doesn’t have much power over it citizens and uses the army only for defense.

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I have thought about this topic and think violence change things.

In a minarchy companies competing against eachother to make better and/or cheaper products or services. And consumers choice voluntarily which product and/or service they buy.

But in an anarcho-capitalism it’s not only about who can make the best and/ or cheaper product or services that the consumer wants, but it’s then also about who can use violence in the best way.

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Sons of Liberty,

I don’t talk about some rich people oppressing rest of society.

I mean more for example. A bad guy wants to get rich so he builds computer company, he then becomes rich, he has then ofcourse helped himself and society.

Then he builds a private army because he likes power and to defend himself.

He then hates this average guy for whatever reason. He than kills this average guy.

The family and friends of that average guy can do nothing back, because this bad rich man has an army and can kill all of them. Also this rich bad man has rich powerfull friends.

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Ramlajh,

I agree with you. Countries shouldn’t have a welfare state and if they don’t have welfare, they than can have free immigration.

Because immigrants improve there lives, because they other wise wouldn’t immigrate.

And the country that get’s the immigrants also improves, because those immigrants are encouraged to work or to create a business, because there is no welfare. If they don’t do that they will live on charity and that is below the welfare standard.

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