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Cash, no credit: Libertarians shake up Minneapolis suburb

Monday, October 31, 2016 21:18
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Interesting that these little libertarian enclaves are popping up around the country. I live in one outside of Charlottesville Virginia. There are others in places like New Hampshire and even California.

What a concept. Pay as one goes. How radical!

(From The AP)

When most cities want to build something – a water plant, a convention center – they borrow the money on the bond market and pay it off over time with interest. Not Crystal, a middle-class suburb of Minneapolis.

It paid $13 million in cash when it needed a new public works building, taking the money from its savings accounts and shrinking the city’s reserves by nearly one-quarter.

Pay-as-you-go wisdom or long-term financial folly? However it eventually works out, the decision is just one example of how the Crystal City Council approaches civic issues a bit differently. The reason: A majority of its seven members are Libertarians or are sympathetic to the party’s philosophy of maximum personal freedom and minimum government.

In fact, the bedroom community of 22,500 people has the highest proportion of Libertarians in power of any elected body in the U.S., according to the party.

Click here for the article.


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