I noted previously (Update: The Prophetic Dr. Hoppe on the Rise of the Phoenix) Professor Hoppe’s prediction years ago of the inexorable move to a single, worldwide fiat currency. It’s coming. As reported here, “The dollar dropped after China’s central bank reiterated a call for a worldwide currency.”
See also Hoppe’s fascinating discussion of money starting about 1:05:17 of Lecture 3 of his riveting 10-part Economy, Society, and History lectures delivered in 2004, where he talks about the tendency on a free market of multiple “monies” to converge to one–by the nature of money, it’s more valuable the more widespread it is, etc. Hoppe notes that there is a similar tendency now, with fiat currencies, only this time, it’s bad, not good. He points out that the world had alreayd achieved free market unified money (gold); this was destroyed with the outgrowth of dozens of country-based paper monies, leading to a world in a state of quasi-barter; and now when the major currencies like the dollar, yen, euro, talk about monetary unification, they are moving back towards what we already had with gold, except without the relatively fixed supply and other salutary aspects of a commodity-based money.
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BTW, Steve is still detailing the major impact the first 66 pages (not even the first chapter) of MES had on his intellectual development:
“The interaction of numerous people’s marginal utilities, including that of the money they would hold/give up to acquire said goods, determines price. Go read the first 66 pages of Man, Economy, and State.”
at
http://austrianeconomists.typepad.com/weblog/2009/07/in-praise-of-accomplishment/comments/page/2/#comments
I must bring to your attention an imposter, claiming to be me:
http://austrianeconomists.typepad.com/weblog/2009/07/what-is-it-that-adam-and-doug-are-always-telling-me/comments/page/2/#comments
Let me avow that this fake is not I, the one and only Bringer of the Purple Light. (His positive comments re. Pete’s project should be proof enough of that. Plus that, the true Lord would have laughed at the sorry-ass grad student who got a lesson in math, too late in life to do himself much good.)
time to cast off the whole lord thing. just become purple haze, or something simple.
i recommend these two companion papers, first by selgin, and the rebuttal by herbener. both good. i side with herbener.
http://www.cato.org/pubs/journal/cj19n2/cj19n2-4.pdf
http://mises.org/journals/qjae/pdf/qjae5_1_4.pdf
Stephan, Stephan, Stephan. “Hoppe’s” prediction of a worldwide fiat currency? I know that you are not a One World Government conspiracy theorist like myself, but conspiracy theorists have been predicting this decades before Hans wrote about it—along with a One World military.
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