Wolff Sets Forth a Version of Anarchism, Holding That All

question 6

True/False

Wolff sets forth a version of anarchism, holding that all forms of government violate our overriding duty to act autonomously. Wolff's argument (and essay) can be divided into two parts. In the first he describes the meaning of political authority, distinguishing it from mere power. In the second part he defines autonomy and argues that it is incompatible with accepting authority.
-An anarchist must sometimes view the commands of the state as legitimate.

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Definitions:

Excess Reserves

The excess funds that a bank or financial institution maintains beyond the minimum mandated by regulatory bodies, creditors, or its own internal policies.

Money Supply

The total amount of money—cash, coins, and balances in bank accounts—in circulation within a country's economy at a specific time.

Required Reserve Ratio

The fraction of deposits that banks are required to keep on hand and not lend out, as set by the central bank.

Discount Rate

The interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank's lending facility.