Posts Tagged ‘Ernie Hancock’

Financial Sustainability or Irrational Exuberance in Liberty Projects?

Wednesday, May 16th, 2012   Submitted by Davi Barker

I’ve been thinking about this since Ofer Nave spoke in the Agorist Panel at the New Hampshire Liberty Forum this year. He drew a distinction between sustainable and unsustainable counter economic activity, but predicted a series of tipping points when more unsustainable activities become sustainable as the counter economy grows. He also made an economic point that in the current market it makes more sense to spend dollars than silver currency. Greshem’s Law suggests that when legal tender laws exist, if a merchant accepts silver and paper it’s in the customer’s best interest to spend paper and horde silver. But, agorists still spend silver against their economic self-interest out of what Ofer called “irrational exuberance,” or passion for liberty. I have a similar concept that I call the “entertainment premium” on activism.

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