Regulatory Reform…Privatization?

Government regulation of commerce has and will always been a hotly debated subject. Governments create regulations for insurance, banking, money, labor, industry, the environment, consumer safety, fairness etc. Anytime there has been a problem in the market place, whether small or large, many have called for more regulation. It has always been assumed that governments must be the ones to create and enforce regulations. Why is this so? Why do people think that the government can’t run a supermarket properly but can regulate properly? It is a paradox of politics.

Free Banking: An Alternate Solution to Full Reserve Banking

I’m writing this article as a response to a comment made on my post called Banking Reform: Full Reserve Banking. As a capitalist and libertarian, I try to find the best solutions to problems and at the same time, find the solution that will increase freedom to the greatest possible extent. I do not believe I have the best and only ideas out there and that is why I appreciate input from readers. Specifically, one reader proposed to me that free banking could be an alternative to mandated full reserve banking.

I have thought about the two systems for a while and have come to agree that it may be the freer of the two since there is no mandate for full reserve banking and in addition to that, may be more feasible to implement. In this article I will give the argument for free banking. I like both systems, but I would like to give libertarians and capitalists out there more ideas than just my own. As it stands, I may end up preferring free banking to full reserve banking.

Reforming Public Education

The public education system in the United States has been deteriorating over time. Many solutions have been proposed but not many address the real issue which is common not only with public education but any public service. That issue is that government-run tax-financed services are inefficient, over-funded in unnecessary programs, under-funded in necessary programs and lack real oversight (except for massive bureaucratic agencies).

Banking Reform: Full Reserve Banking

In the United State, and as far as I know the rest of the world, the banking system is a fractional reserve system. This system has been partially responsible for a lot of the financial turmoil going on in various countries. Although the system is very popular, it is quite dangerous and leads to financial and economic instability. Fractional reserve banking is a system based upon debt because it expands credit artificially. Every bank that is part of the Federal Reserve System must, by law, use fractional reserve banking. The ultimate flaw of the system is that it tries to combine lending and saving into one institution.

The Case for a Silver Coin Standard

Understanding the history of money is very important if a nation wants a stable economy. As a matter of fact, failing to understand how money works can prove disastrous to a nation, as ours has seen time and time again. Money evolved from barter, which as we all know, was cumbersome and inconvenient. Money always starts as a high valued commodity and ends as a fiat currency.

Views vs Principles: The Reason for Political Apathy

It sometimes seems surprising that people always fight for democracy and the ability to have a voice in their government, but when it comes down to election time, there is very little turnout. It is something that puzzled me for a long time, but I think I found the answer. This has mainly been through discussion with those who are apathetic about politics.

Reforming Medicare and Medicaid

Aside from reforming Social Security, reforming Medicare and Medicaid is of great urgency. Medicare and Medicaid comprise about 20% of the entire federal budget. Both are unstable and spending has been growing over the years. If the programs are not stabilized, they will follow the path of Social Security and will consume the entire federal budget.

Fixing Social Security

The issue of Social Security is a very serious one that if not resolved, will engulf the nation in massive debt and produce huge deficits. Congress has refrained from making any necessary reforms to the program due to the sensitivity of the issue. However, the main problem with the social security program is not its existence, but the way it is financed.

Human Rights Inconsistent with Liberty

The Universal Declaration of Human Rights is something that few people question as being moral and just. However, I ask those who support it fully, if they have even read the list of rights declared under it. Certain articles listed are not consistent with liberty itself because they require that one person provide a service for another person, which goes against the concepts of individual liberty.

Drugs, Alcohol and Tobacco

Drugs
The War on Drugs has been going on for many years, has cost billions of dollars and has caused the loss of countless lives. Multiple governments across the world have tried their best to get drugs off the streets to no avail. The problem is that the drug war follows the rules of the market. As long as there are consumers, there will always be producers. Simply making something illegal does not stop it from happening.