No Fractional Reserve Thinking

Lew and Ike: The explanation for the consistency in thinking, to which you refer, is rather simple. Living a centered, principled life leads to a consistent way of behaving. The failure to do so is what makes it possible for some self-styled “Christians” to promote wars — contrary to the basic core of the founder of that religion. It also accounts for presidential candidates mouthing the kinds of inconsistencies that keep Jon Stewart in business while, at the same time, admiring Ron Paul for his “consistency.” (When you have a philosophically-centered position, you don’t have to keep looking over your shoulder wondering if anyone is taking note of your contradictions). Kahn’s — and the Austrian school’s — analysis of “fractional reserve banking” applies to state action generally: Is it possible to find consistency of principle in political systems, relying as they do on lies, theft, violence, and other actions inconsistent with their avowed purposes?

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3:31 pm on December 14, 2011