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Reihan Salam
2,730 followers
2,730 followers
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It's happening. It's really, really happening. This logo is courtesy of +Rosten Woo.
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(Via John M.)

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Highways, fireplaces, and Christmas trees.

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"Conservatives also tend to think that loosening monetary policy is a kind of intervention in free markets, and therefore to be suspicious of it. But this is an error. Professor Hendrickson points out that in a system of free banking, with competitive note issue rather than a central bank, the desire for profit and the need for solvency would lead to the supply of banknotes roughly equaling the demand. In a fiat-money regime such as the one under which we, for better or worse, live, a central bank’s withholding of a sufficient supply of money is just as much of an intervention in the economy as its overproduction of it." -- Ramesh Ponnuru

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This is very interesting.

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Oh, I've been waiting for this alright.
The day you haven't been waiting for, but might have considered maybe, possibly waiting for if you knew it was coming: Day 1 of my "Big Man, Little Countries" travel series on Slate. Today: Andorra. Tomorrow through Friday: Monaco, San Marino, Liechtenstein ... and still more Liechtenstein!

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