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[Fwd: LFB Book News: THE END OF MONEY]
daemon@ATHENA.MIT.EDU (Soren)
Fri Feb 12 19:16:45 1999
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Date: Fri, 12 Feb 1999 14:47:26 -0800
To: booknews@laissezfaire.org
From: Russell Hanneken <russell@laissezfaire.org>
Subject: LFB Book News: THE END OF MONEY
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=================================================================
Laissez Faire Books - Book News - February 12, 1999
Please forward this message to anyone who might be interested.
=================================================================
Save 30%!
How to stop the government from prying into your personal
business
THE END OF MONEY
and the Struggle for Financial Privacy
by Richard W. Rahn
(Discovery Institute Press, 1999)
IV7956 (hardcover) 223p.
Publisher's price: $25.00
OUR PRICE ONLY $17.50
(reviewed by Jim Powell)
Economist Rahn reports there are over 3,000 federal criminal
offenses in the US, plus millions of regulations. The Internal
Revenue Code runs over 9,000 pages. This explosion of laws and
regulations has brought government snooping on a gigantic scale.
Rahn shows how often government snoops get bank checking-account
records, monitor overseas phone calls and otherwise invade
privacy. He covers government seizure of the assets of peaceful
people. He makes clear that government gains power to invade
privacy in the name of supposedly high-minded objectives like
stopping criminals and drug dealers, but the power to invade
privacy is always abused.
Fortunately, Rahn explains that "new technology has made it
impossible, at least in any cost-effective manner, to enforce
such laws and restrictions and at the same time preserve civil
liberties." He goes on to say that "The only form of
communication remaining that an individual, with a high degree of
certainty, can know is not being monitored is highly encrypted
digital data. Other than a gun, this is one of the last
individual defenses against corrupt or totalitarian institutions
and individuals."
Rahn discusses the impact of the Internet (beyond the control of
any government), the semiconductor chip (doubling in power about
every 18 months), public key encryption (highly secure and
becoming ever more difficult to breach), global futures markets
(which enable anybody to learn the price of freely-traded
currencies and commodities), asset securitization (enabling many
assets to provide backing for private money), smart cards
(storing money outside electronic communications systems) and the
declining cost of communications systems (which makes it cheaper
to use private money). He talks about the spread of optical
communications and low orbit satellites which enable anybody
using a pocket communicator to access the Internet--even when
there aren't any wires around.
"Private money is on its way," Rahn declares, "and no government
is going to be able to stop its arrival or its flow. Concealing
one's financial transactions will be easy for those who wish to
do so, and government efforts to make private money illegal or
taxable will ultimately fail."
A provocative book with great news.
"Richard Rahn is that rare, rare bird, an economist who can
explain arcane matters in easy-to-understand language. Get the
latest dope, in plain language, on the world banking and currency
crisis, the techniques and importance of 'foreign' bank accounts,
and how modern technology may spell the ultimate demise to
intrusive and totalitarian governments."
--Henry G. Manne, founder of the Law and Economics Center
=================================================================
THE END OF MONEY
IV7956 (hardcover) 223p.
Publisher's price: $25.00
OUR PRICE ONLY $17.50
This book can be ordered through our web site at
http://laissezfaire.org/iv7956.html
=================================================================
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-----------------------------------------------------------------
Russell Hanneken Laissez Faire Books
russell@laissezfaire.org http://laissezfaire.org/
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