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Author Archives: Hestal
An Unlimited Supply of Money
Alexander Hamilton’s definition of money (p. 299) is correct as far as it goes. What he omitted, and may not have known, is that money is a natural, national resource much like water. Throughout history, civilized society has worked to … Continue reading
Posted in Economics
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How Ben Hogan Helped Phil Mickelson
January 21, 2013: Phil Mickelson made some remarks today about his income taxes. He has a real problem, and he is complaining about it. But he should keep quiet. Lots of men suffered, sacrificed, and worked to build the … Continue reading
Tyranno-Capitalism
Our system of government was deliberately designed by some of the greatest minds our nation has ever known. But our system of economics was not designed by anyone—it simply developed over many years under the brutal process of evolution by … Continue reading
Posted in Economics, Faction-Free Democracy
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Charles Beard and Federalist 10
When I first read historian Charles A. Beard’s excellent book, An Economic Interpretation of the American Constitution, it was forty-six years old and now more than a century after its publication it still stands like a rock. I first read … Continue reading
Posted in Economics, The Framers
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The Elitism of Alexander Hamilton
Alexander Hamilton theorized how wealthy elites would be chosen. In Federalist 30-36, he discussed the general power of taxation, and took up the question of who would likely be elected to represent the people. He introduced the discussion by saying … Continue reading
Posted in The Framers
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Two Forms of Capitalism
Democrato-capitalism works for the common good. Tyranno-capitalism works against it. According to tyranno-capitalist theory, the people should interact with our system of economics in such a way that the invisible hand will, in real time, combine the dynamic sums and … Continue reading
Posted in Economics, Uncategorized
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Wall Street, Main Street, Peptic Ulcers
Friday Sep 14, 2012 The Fed has announced a new phase of Quantitative Easing which it hopes will drop unemployment to 7% years from now. Main Street is still suffering. Wall Street, on the other hand has recovered. Big profits, … Continue reading
Posted in Economics
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A Mathematical Way to Describe Different Forms of Government
We know that there is a field of study that is called “political science.” But we also know that it is not really a science. The field of economics is not a science either, but because everything it involves can … Continue reading
Posted in Faction-Free Democracy
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Introduction to Faction-Free Democracy
Introduction Why I wrote this book. At the end of World War II my father and other young men came home, and our quiet world of waiting, worrying women and children became one of joy, excitement, vigor, and optimism. For … Continue reading
Posted in Faction-Free Democracy
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How Tyranno-Capitalism Distributes Money
In Federalist 30, Alexander Hamilton discussed the general power of taxation, and he correctly described the proper and indispensable role of money in the operations of the state and in the lives of the people. He did not realize that … Continue reading
Posted in Economics
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