Status Updates From Economía y ética de la prop...

Libertarianism seems to boil down to the idea that competition is good, so how did we go from a nation of sovereign states to a centralized federal government? Just a cycle? Empires become too large and eventually explode into small pieces that begin to reassemble?

I'm at that part where Selgin and White get BTFO in the most legendary way imaginable.

"Only a system of universal commodity money (gold), competitive banks, and 100-percent-reserve deposit banking with a strict functional separation of loan and deposit banking constitutes a just monetary system that can assure economic stability and present a genuine answer to the current monetarist fiasco."

from Chapter 6, "How is Fiat Money Possible? — or, The Devolution of Money and Credit"