Here are some interesting points from a study of over 775 fiat currencies.
- Shortest life span: 1 month
- Average life span: 27 years
- Longest life span: 317 years (pound sterling). However, the pound sterling has lost 99.5% of its original value.
So, what happened to these currencies?
- 20% failed through hyperinflation
- 21% were destroyed by war
- 12% destroyed by independence
- 24% were monetarily reformed
- 23% are still in circulation
We went for Ron Paul, at first. Picked up The Revolution: A Manifesto and End the Fed, they were checked out on Liberty Defined. I, and Paul, have made my mom more interested in economics and politics. So we picked up
Capitalism: The Unknown Ideal - Ayn Rand
Economics on One Lesson - Hazlitt
The Wisdom of Henry Hazlitt
The Road to Serfdom - F.A. Hayek
Individualism and Economic Order - F.A. Hayek
Selected Essays on Political Economy - Frederic Bastiat
Economic Harmonies - Bastiat
Chester Alan Arthur - Zachary Karabell
The Sovereign Individual - Davidson & Rees-Mogg
Also a movie about Ayn Rands love life and the comedy The Informant.
We will be busy. But as I left I thought “…Crap, I didn’t get us any Rothbard.”
Anyway, should be fun.