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- Money and Banks
- 2001
Mises Daily
Author:
Christopher Mayer
Online Publish Date:
The salutary nature of an economic bust is how it sifts out the misallocations of capital made during the preceding boom. It thereby leaves a stronger mix of businesses better fitted to meet the needs and wants of consumers. The misallocations induced by a credit-inspired boom are built on the sandy foundations of expansive monetary policy and
Mises Daily
Author:
Christopher Mayer
Online Publish Date:
“Everywhere life’s illusions are all of the same sheer stuff; variety is a trick of refraction.” --Garet Garrett, Where the Money Grows , 1911 Popular delusions pepper human affairs both past and present. And perhaps nowhere is such folly so liberally sprinkled as in matters of money--particularly when it comes to the nature and the consequences
Mises Daily
Author:
Lawrence W. Reed
Online Publish Date:
Alan Greenspan has again lowered the price of short-term credit (the interest rate that he controls) in an effort to keep the economy from falling into recession. Rather than speculate on whether this will work, I’d like to raise a different set of questions. What is it about our monetary system that permits Greenspan and a handful of others to
Mises Daily
Author:
Steve Piraino
Online Publish Date:
The advantages of a gold standard are familiar to supporters of the free market. Gold possesses all of the attributes of an ideal medium of exchange. It is durable, portable, malleable, valuable, and fungible, which is why the market chose it as the dominant money before the age of paper money. Most importantly, gold is brought into circulation
Mises Daily
Author:
Gregory Bresiger
Online Publish Date:
The stock-market bubble of the past few years has distorted American economic values. The wealth effect is leading Americans to think that stock prices will never go down, so there is no reason to save. Americans, whose savings rates have been declining for decades, should save more. The stock-market boom of the past few years has been fueled by
Mises Daily
Author:
Gregory Bresiger
Online Publish Date:
Politically oriented monetary policies and business cycles are the inevitable by-products of a central bank, the ultimate favored banking institution which is viewed as a savior by some politicians facing elections. After the elections comes the bill: Inflation runs amuck. The nation goes into a painful recession, or the stock market crashes.
Mises Daily
Author:
Gregory Bresiger
Online Publish Date:
The perennial debate over gold is as old as civilization. What makes money valuable? Why do we happily accept some pieces of paper and refuse others? It is because one does or does not have some degree of confidence in the government that issues a currency. So today, for example, almost all players in the National Hockey League, Canadians as well
Mises Daily
Author:
Hans F. Sennholz
Online Publish Date:
There is a great division among economists over where the American economy is headed. Essentially, they are divided into three different schools of thought: the pessimists who believe that the economy is bound to sink into a long and painful recession; the optimists who believe that the former are doom-and-gloomers overreacting to a few negative
Mises Daily
Author:
Hans F. Sennholz
Online Publish Date:
Mutual funds are open-end investment companies that offer their shares to the public and redeem them on demand. They pool the savings of their shareholders and invest them in stocks, bonds, government securities, and short-term money-market instruments. During the last ten years, they have attracted nearly one-half of the net growth of household