The amazing thing about the free market is the seemingly infinite customization. Take for instance automobiles. The last vehicle I purchased, I ordered directly from the factory. I listed every single detail and option that I desired and the factory built it specifically for me. This used to be the sort of luxury reserved only to the wealthy, but now anyone who makes the plunge for a new vehicle has that ability. Continue reading
In order to address the claims made by typical mainstream layman and economist alike, we must first briefly outline how the modern American monetary system came about.
Prior to the establishment of the United States, this geographic area was settled by scattered groups of primarily English and Spaniards. As will occur in any location, the choice medium of exchange arises as a function of scarcity and demand. For the early colonials, this ranged from beaver pelts and corn in the northern areas to fish and tobacco in the south. As the region began to grow, gold and silver coins were imported and used frequently in the cities and for foreign trade.