CHAPTER 14: Aside from outright government ownership of the means of production like the TVA or the post office and regulatory agencies (FTC, FDA, OSHA, EEOC, ETC, ETC, ETC) there are two other ways of meddling with a NRSO social system..  One is called FISCAL POLICY and the other is called MONETARY POLICY.

Of course in a NRSO (natural rights and spontaneous order) society there would not be any taxation, government spending, or fiat money.  People would specialize according to their comparative advantages, trade for mutual benefit, and have real money that could not be created by accounting entries and computers.

Job opportunties with no licensing, taxation, or regulations would abound.  Unemployment would be tempory and minimal. 

Prices would fall gradually as productivity increases like they did in the 1800s.  People would not have to speculate in unpredictable high risk ventures such as stocks in order to protect their economic futures.

Savers would be rewarded for providing financial capital to investors and entrepreneurs would be free to create new products and  new ways of producing old ones.

Review Questions:  What would happen to the economy in the short run if government planners stopped trying to regulate it.  In the long run would most people be better off or worse off?  (the $64,000  review question).