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Does Gresham's Law prove that money must have intrinsic value? Great article by Gary North. I didn't know all that about Gresham's Law and foreign exchange. Does it also have a simpler application as explaining domestic circulation? For instance, when arguing with Keynesian/Chicagoites, who...
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I don't know any books on this subject. However there's a mp3 accompanied with a transcript of Joseph R. Peden's lecture "Inflation and the Fall of the Roman Empire," given at the Seminar on Money and Government in Houston, Texas, on October 27, 1984. I've listend to it and...
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How does one buy gold from a gold mining company in economy using gold as money? I expect the buyer must use another type of money such as silver.
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Hi, I'm working the following idea up to be an intro to an article on inflationists throughout history. Could you guys let me know if you can find any holes in the argument? Much of what is today called "macroeconomics" is not actually economics. It would be better described as a sub-discipline...
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I have just read Lenin's Imperialism and given a small lecture on it for a bunch of socialists I know. I thoroughly enjoyed the book. The research is very well compiled and gives a great historical account of how we progressed. My one criticism however is very potent. And it's one no doubt many...
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[quote user="Sukrit Sabhlok"] Reading Tom Woods book at the moment where he describes the interest rate as "like a price" (p. 66). Would David Friedman's critique of the term "price of money" be relevant here? I don't quite get what Friedman is saying: It is common...
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How do government subsidies make college more expensive?
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I just want to check if my understanding of the reserve requirement is accurate. When the Fed buys an asset from banks or government debt it creates however much money in the form of reserves. So the money supply should be potentially inflated by 10 times the Fed's purchase because of fractional...
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One future prediction I am certain of. When the Federal Reserve triples the base money supply in two years, while production is collapsing, then prices will rise. When the dollar loses its reserve currency status then prices will rocket. As far as today's CPI numbers are concerned, two things. One...
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I need some help understanding the role of money in our society as it relates to personal finances / fortunes. If the money in my wallet / checking account / investments, etc.. is borrowed from the Federal Reserve to be repaid through work / taxes, then I really don't have any money right? I am simply...