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Although this college professor's experiment may be shocking, I do not find it surprising. The professor blames the public schools for not teaching the great ideas of liberty and personal responsibility in a democratic republic. I do not necessarily disagree, but I think the source of the problem is much deeper. Our federal government DOES have the technical ability to shower as much fiat money on selected citizens as it wishes. There does not appear to be any practical limitation to its money printing ability. In fact Fed Chairman Bernanke famously stated this very fact in a speech a few years ago. Therefore, why should any American NOT demand that the federal government give them money for anything that they wish? The list of government largess keeps growing and will continue to grow because there is no practical or theoretical limit...as long as the government has the ability to print money. If prices go up...well, just increase the budget. Since I doubt that REAL economics is taught in the public schools and the media certainly is not interested in the consequences of increasing the American people's dependency upon government, we can expect that the public will continue to demand more and more fiat money for the same and new programs until the dollar becomes worthless.
http://www.youtube.com/watch?v=VxHfYNTrnic&feature=youtu.be
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I have been reading your articles and I must add as student of economics, you are not backing your augments with real data. Economics is science, not a religion. If any of your theories are scientifically accurate, you should publish them in a respected economic journal for peer review with supporting econometric data. It is irresponsible to sell economic ideas as fact to the general public without asking for criticism from the people who know much more about the subject then you (and me for that matter)
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