Category Archives: Economics

Accounting for Irreality

In a recent discussion about Bitcoin it occurred to me the level of anti realism of Bitcoin by comparing a real ledger to Bitcoin. The bitcoin block chain is a shared ledger. A bitcoin is nothing other than the numbers … Continue reading

Posted in Economics, Links | 10 Comments

Noonan Notes I

I’ve gotten a hold of Noonan’s “The Scholastic Analysis of Usury.” Here begins some of my notes and thoughts. As a bibliography it is great. There are lots of citations to primary and secondary sources. As history, it appears frequently … Continue reading

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Big Government Part 2

The problem with big or interventionist government as pejorative is that it confuses a set of authorizations by the government with a government not authorizing or intervening. In the case of a man choosing what to buy the various levels … Continue reading

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Opportunity of Cost of Usury

Consider a contract of sale. In the terms there is a transfer of ownership of property. On the seller side, what justifies the charge is the property being sold. The seller may consider the opportunity cost as a means of … Continue reading

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Electronic Property

Consider a book. When I buy a book I have a concrete ownership over that particular object. Subject to copyright laws, I can do with it as I please and dispose of it as I see fit. Most importantly, I … Continue reading

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A Bit of Reality

In order to clarify the value of bitcoins, consider the following story: Suppose that a group of accountants work in a closed room each with a copy of the same ledger. The assets that are recorded on the ledger are … Continue reading

Posted in Economics, Musings | 3 Comments

Property Notes

Property is first and foremost political and public. There is nothing in external objects that orders then as such to a particular person and around this revolves the problem of private property and the common destination of all goods. As … Continue reading

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