"The Trillion Dollar Question: Should the National Debt be Repudiated?"

I have been PREDICTING that the U.S. government would default on its
debt
since 1993. But I have been ADVOCATING total repudiation of the
government's debt for much longer. My article making this case from
the
August-September 1981 issue of CALIBER (publication of the Libertarian
Party of California) is now available as a pdf download on my personal
webpage (http://www.jrhummel.com/).

I've accompanied the article with a caveat that includes the
following:
"If I were writing it today, the article would be a little less
strident,
and my discussion of the economic consequences of repudiation would be
more sophisticated. I would tone down some minor hyperbole in the
article's opening section. In particular, the 2007-08 financial crisis
has
convinced me that I was much too blase about the short-run
consequences of
a U.S. repudiation. But I still think my long-run economic analysis is
correct, that my moral case for repudiation is justified, and that my
historical examples (which could be expanded and extended to other
cases)
is telling."

Hat Tip: I would like to thank Less Antman for originally publishing
and
editing this article, and Ross Levatter and Buzz Grafe for helping me
create this pdf copy to post online.