Issue CCLXXXVIII

May 30, 2011

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Art
Abstract Orderism Fractal XXXII
G. Stolyarov II

May 30, 2011

This fractal by Mr. Stolyarov consists of multiple distinct star-like shapes, formed not just by the yellow-orange "substance", but also by the spaces in between.

Abstract Orderism Fractal XXXIII
G. Stolyarov II

May 30, 2011

This fractal's components appear rounded and three-dimensional, and their arrangement forms a kind of "negative four-leaf clover".

Abstract Orderism Fractal XXXIV
G. Stolyarov II

May 30, 2011

This fractal by Mr. Stolyarov is characterized by the blending and interaction of rectangular and rounded shapes, and both components are exhibited to various degrees in the five distinct geometric objects comprising the fractal (two of which are in the negative space).

Abstract Orderism Fractal XXXV
G. Stolyarov II

May 30, 2011

The patterns on this fractal by Mr. Stolyarov resemble butterflies within an ornate network of wires.

Economics
Don't Worry About the Yuan
Robert P. Murphy

May 30, 2011

Especially during dismal economic times, many Americans—goaded by media figures and politicians—look with suspicion on foreigners. This tendency is most obvious in anti-immigrant sentiment, but also manifests itself in a drive for protective tariffs and other trade restrictions.
Over the past few years China’s “currency manipulation” has been a particularly hot-button issue. Pundits claim the Chinese government, by artificially suppressing the value of its currency, unfairly subsidizes Chinese exporters while destroying American jobs. Although there is truth to this claim it overlooks the benefits to American consumers from the Chinese policy. Dr. Robert Murphy writes that Americans should stop fretting about the Chinese currency.

Money and Inflation: What's Going On in the World?
Gerald P. O'Driscoll, Jr.

May 30, 2011

Are America and the world at risk for another inflationary episode similar to the 1970s and early 1980s? Or do current low rates of inflation portend low inflation for the foreseeable future? Dr. Gerald O'Driscoll explores these questions and why the Federal Reserve's responses to them are deficient.

How Intellectual Property Hampers the Free Market
N. Stephan Kinsella

May 30, 2011

Advocates of free-market capitalism commonly believe in the legitimacy of intellectual property (IP) because IP rights are thought to be important to a system of private property.
But are they? There are good reasons to think that IP is not actually property—that it is actually antithetical to a private-property, free-market order. Stephan Kinsella explains.

Politics
Jury Nullification: Right, Remedy, or Danger?
Wendy McElroy

May 30, 2011

Last December a “mutiny” occurred in a Montana courtroom. At least that’s what a stunned county deputy attorney called it. One of 27 members of a jury pool spoke up to ask why taxpayer money was being wasted to prosecute a man accused of possessing 1/16th of an ounce of marijuana. When polled, a large majority of the potential jurors indicated their reluctance to convict on such a minor possession. Nullification is often held up as a populist defense against oppressive or corrupt law, but many questions surround the legal procedure. Wendy McElroy explores these questions.

Stop Raising the Debt Ceiling
Ron Paul

May 30, 2011

It is predictable that Congress will once again merely delay the inevitable and raise the debt ceiling, after the usual rhetoric about controlling spending, making cuts, and yes, raising taxes.  We have heard endless warnings about how irresponsible it would be to “shut down the government.” The implication is that sober, rational, mature pundits and politicians understand reality, while those who oppose raising the debt ceiling limit are reckless ideologues who will harm the economy just to make a point.
But like any debtor that has to reduce its spending, the federal government simply needs to establish priorities and stop spending money on anything other than those priorities. Rep. Ron Paul explains how this could be done.

The Milk Police
Ron Paul

May 30, 2011

On April 20th, after a year-long undercover sting operation, armed federal agents acting on behalf of the Food and Drug Administration (FDA) raided the business of Pennsylvanian Amish farmer Dan Allgyer to prevent him from selling his unpasteurized milk to willing, fully-informed customers in Maryland. Federal agents wasted a whole year and who knows how many of our tax dollars posing as customers in order to catch Allgyer committing the "crime" of selling his milk. Rep. Ron Paul writes that these types of police-state raids on peaceful businessmen, so reminiscent of our tyrannical federal drug war, have no place in a free society.

 "The philosopher has never killed any priests, whereas the priest has killed a great many philosophers." 
~ Denis Diderot