In a message dated 6/16/03 10:20:52 AM, [EMAIL PROTECTED] writes:

>--- [EMAIL PROTECTED] wrote:
>> Americans don't like to support something called "socialism," but
>> they often support socialism by some other name.
>> David
>
>All but a very few Americans, including economists, are in favor of
>socialized money.  That is the most pervasive socialist program in the
>USA.
>
>Fred Foldvary

Not me!  :)

Socialized money has a long pedagree--arguably at least centuries older than 
socialism itself.  During the Middle Ages merchants in some cities started to 
coin their own money, earning income off converting silver and sometimes gold 
into coins of guaranteed weights.  When princes and kings grew sufficiently 
powerful, they seized the coinage business from private merchants and tried to 
monopolize it.  The notion that the prince, or seignior, has the right to coin 
money has become so ingrained in western thinking that we even refer to the 
process as "seigniorage."  In the ancient world, of course, kings and emperors 
often coined money, and the Imperial Chinese beaucracy even printed paper 
money.  One might argue, therefore, that socialized money merely represents a 
continuation of pre-modern lack of liberty, long predating something formally 
called socialism.  It's not for nought that Alexis d'Toqueville, speaking in the 
French Chamber of Deputies in 1848, denounced socialism as the road back to 
serfdom.

David Levenstam

Reply via email to