I think those people who say they believe in a gold standard are fundamentally being very anti-libertarian because what they mean by a gold standard is a governmentally fixed price for gold.
—Milton Friedman
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What an excellent quotation. Since true liberty (supposedly the aim of libertarianism) requires nothing more than a system in which each is free to act in any chosen manner without harming another by that act, should people not be free to contract to require payment in FRNs or whatever else they wish to use as money?
Of course, it's a very mature concept, that others should not be forced to think and do as we think they should think and do. Humanity will take a great step forward (or so I think) when that attitude becomes widespread.
Posted by: William | 22 March 2008 at 11:18