They’ll never get it.
Whether Intelligent Design is good theory or bad (and I say that there’s an important kernel of sense at least related to it) is irrelevant:
Not when, not where, not how.
Thus sayeth the founder of FLEX.
... the free market cannot be trusted to serve the pubic in supplying good money. But this formulation rests on a misinterpretation of Gresham's famous law. The law really says that "money overvalued artificially by government will drive out of circulation artificially undervalued money." Suppose, for example, there are one-ounce gold coins in circulation. After a few years of wear and tear, let us say that some coins weigh only .9 ounces. Obviously, on the free market, the worn coins would circulate at only ninety percent of the value of the full-bodied coins, and the nominal face-value of the former would have to be repudiated. If anything, it will be the "bad" coins that will be driven from the market. But suppose the government decrees that everyone must treat the worn coins as equal to new, fresh coins, and must accept them equally in payment of debts. What has the government really done? It has imposed price controls by coercion on the "exchange rate" between the two types of coin. By insisting on the par-ratio when the worn coins should exchange at ten percent discount, it artificially overvalues the worn coins and undervalues new coins. Consequently, everyone will circulate the worn coins, and hoard or export the new. "Bad money drives out good money," then, not on the free-market, but as the direct result of governmental intervention in the market.Government monopolizes more things than money. Government mints dollars by fiat, controls values artificially. Government mints lots of things by fiat, artificially controlling more and more values: a school system, a postal system, justice, medicine ... We have to accept dolt after schmuck by government label: as quality leeches from the society: exported or hoarded (or, just as likely, extinct).
2005 03 09 insert: I think I started this well enough, but just as I arrived at my real start, here, other things drained my momentum. So, it doesn't get well done all at once. Life can be like that.More Trust Misplaced: Gresham's Law in Education
The Philadelphia lawyer I first did art tax shelters with in 1978 got antsy about art shelters for 1979. Instead of just financing graphic multiples that few expected to sell or oil wells where no one expected to find oil (neither would they try very hard), or indy movies with budgets that assured the films' non-completion, Mr. Solomon Liberty, Esq. sold time shares in a railroad freight car permanently parked on a rusty side railing not even connected to the system of railroad tracks. A thirty minute share would lose the reluctant tax payer a quick $30,000.When I went to graduate school, I was using its rusty labyrinth for my own purposes. I was in no great hurry to butt heads with the old stags.