The Austrian School of Economics was funded by the Rockefeller Foundation and the William Volker Fund. The same people who created the United Nations and wrote the Federal Reserve Act of 1913 got what they paid to have funded, a utopia for bankers and bureaucrats and a dystopia for the rest of us. To understand this dystopia, you only have to follow the deductive logic of the Austrians.
First, you have to borrow gold from the bankers to pay rent to the bankers to be on their land. Next, you have to borrow gold from the bankers to pay a toll to the bankers to travel across their land to find a stick. Then, you must borrow gold from the bankers to purchase the stick from the bankers. Finally, you can pick up the stick and engage in anarchy. However, you must be made aware the bankers have an army with bigger sticks.
You could just enter into a “free market” agreement to work for the bankers who have all the land and gold. If you’re strong, they might hand you a stick, a uniform, and a nice job of enforcing the laws of the “free market”, designed of course for and by the people who funded the Austrian School of Economics.
It doesn’t stop there. Gold increases in value as more and more people enter the bankers’ dystopian “free market.” With deflation, people wouldn’t be able to afford their debts, so the banks start to partially back the money by gold and loan at interest several times over what they have in reserve. This increases the money supply. This is called fractional reserve banking. At any time, the banks can stop loaning their partially backed gold notes and decrease the supply of money, resulting in a deflationary depression where the banks start to grab all the land as people go bankrupt on their loans.
You and the other peasants could decide you’ve had enough of this blatant tyranny. You could refuse to follow the rules, grab a stick, and go after the bankers and their army. Unfortunately, the bankers’ army has guns, tanks, fighter jets, nuclear bombs, navy ships, and chemical weapons. The bankers also own all the television stations, and all the people who work for the bankers enjoy their iPhones and all the stupid programming on television stations so you’re not going to find many anarchists to join you.
There would be no place to run if the world was ran by the same bankers under a world gold standard and without agrarian justice. There would be no escape. You either would have to work for the bankers or die because the bankers already own all the land and resources.
That is Henry Hazlitt in one lesson. It is certainly not economics in one lesson. It is only a glimpse into the complexity and corruption of political economy. There is no such thing as anarchy as long as there is more than one person. We have to cooperate and share the planet. The government has the duty to issue the money and strictly regulate the supply of money to prevent both inflation and deflation.