individualism for the masses

BK Marcus is an amateur political economist with no formal education in the subject.

He works from Charlottesville, Virginia as an editorial consultant for the Ludwig von Mises Institute and managing editor of Mises.org.

He is no longer a house husband, nor a faculty spouse, but he is still a dilettante and a layabout, at least in spirit.

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"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance."

Murray Rothbard

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Benjamin Tucker Marcus
February 19, 2010

rich as Croesus

May 20th, 2007 by bkmarcus

During the 6th century BC, “the powerful Lydians of Asia Minor were now ruled by Croesus, son of Alyattes, who had extended his empire even further; the Phrygians were subject to Lydia, and the Lydians had alliances with the Greek Ionian cities along the coast. ‘Sardis was at the height of its prosperity,’ Herodotus remarks, ‘and was visited … by every learned Greek who was alive at the time, including Solon of Athens,’ who was on the ten-year exile from his city. The trade routes across Asia Minor had brought Croesus as much wealth as his predecessor Midas, two hundred years before; and like Midas, Croesus had gained a reputation of being one of the richest men in the world.”

(The History of the Ancient World, p. 459)

Meanwhile, Cyrus the Great, founder of the Persian Empire decided to … found the Persian Empire. How? Step 1 was to take over the territory of his great-uncle Croesus.

The two armies met at the Halys river and fought to a draw. Croesus drew back, intending to send to Babylon for aid, but Cyrus (knowing better than to allow time for this) pressed forwards into Lydia and finally cornered the Lydian army in front of Sardis itself. He scattered the Lydian cavalry by bringing in camels (which frightened the horses into bolting), laid siege to the city itself, and brought it down after only fourteen days.[15]

Cyrus thought that his men deserved a reward, so he let them pour into the city, plundering it of its fabled wealth. Meanwhile Croesus — taken prisoner and marched into Cyrus’s presence — watched from the walls beside his captor. He said not a word, so Cyrus asked him why he wasn’t distressed to see his wealth disappearing. “It isn’t my wealth,” Croesus remarked, “it’s yours that they’re stealing.” Upon which Cyrus immediately ordered the plundering to stop.[16] (p. 460f)


[15] Herodotus, I.75–87

[16] Herodotus, I.8890

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