Although I haven’t yet had the opportunity to study this site in detail, I was quite interested in its basic premise : Islam and Libertarianism are not only quite compatible, but actually darn near separated at birth. That’s actually quite close to my thinking on these philosophies and I am thrilled that someone has taken the idea far enough to get an interview with Reason magazine (the gospel of doctrinaire Libertarians). Have a look, as I hope to expand on this idea in the near future.
Update : Minaret’s website is down right now, but the Reason interview is available. Please check it out. It’s worth the time for some fresh voices on all things libertarian.
Update 2: Minaret is back up again. Please take a look at their site and their blog.
The interview in Reason was fantastic and fits right in with something I have been writing.
One part of the interview that I’ve long thought about is the return to the gold standard. I’ve really only heard this from hard core libertarians. I’ve always wondered what would be the full implications of this plan? Is it something that moderates just toss to the side as something for the crazy nwo conspiracy types, or is it just pushed aside as something not as important or possible compared to more immediate liberty-oriented goals?
Chris,
I would suggest several factors.
Many libertarians don’t believe in it. They don’t even have a problem with government fiat money implemented with a Friedmanite discipline.
It may be unworkable in a world of fiat money on a single country basis.
They would rather competition in currencies, free money if you will.
I also submit both of your answers are correct as well. Many more important dragons to slay anyway being the logic now that inflation is seen as problematic by central banks again.
Although I have not definitely committed to a particular stance on this issue, I tend to err towards the gold standard (or the actual use of precious metals or barter as a commodity). Yes, I understand the history of money and monetary policy in the United States. I have somewhat of an appreciation for its benefits, but I also have quite an appreciation for the downsides of an economy entirely dependent on the materially worthless paper currency controlled entirely by a central planning type body (the Federal Reserve system). Inflation is certainly a big worry, but there are other worries, too.
I personally prefer private competing currencies. I believe that by giving government a monopoly on currency we may be throttling legitimate sources of capital. Alternative currencies could be based on metals or greenbacks. Our economy would benefit in many ways, including the mitigation of monetary fiascos like the Great Depression or the S&L scandal. But even better it would eliminate market pressures to monetize other non-money financial instruments, such as stocks.
yours/
peter.