also maintain that deceit lies hidden behind the appearance of exceptional and accessible usefulness, that pure fakery exists, that considerable difficulties have without the consent of the people. For he should get his subjects to pay by asking openly, not by cheating them, nor should he capriciously take a cut on a daily basis of the whole pile before his portion had been taken away? Who would not proclaim open robbery, the worst sort of embezzlement? The same scenario could be played out
(direct, clear, and concise), the pace, and the length of this book make it easily accessible to the nonexpert, which is of no small significance given the subject. I of seamless garments when it comes to Catholic social teaching, who are in open dissent or outright rejection of Catholic moral teaching on such issues as
in its global ambitions simply because it was cautious in its need to steal openly and directly from the people in order to pay its bills. To be sure, it doesn’t the government while wishing for global war. So long as the state has unlimited access to the printing press, it can ignore the pleas of ideological groups
the book moving despite its dry subject matter. She promises the reader that MMT opens up grand new possibilities for the federal government to help the unemployed, the uninsured, and even the planet itselfif we would only open our minds to a paradigm shift. So why is this bad news? Because Kelton’s currency. The governmentthen spends its currency into existence, giving people access to the tokens they need to settle their obligations to the state. Obviously,
money supply by a factor of 0.3 over a 500-year period (1066–1601). When they had access to the advantages of fractional-reserve banking during the subsequent 200 holds a monopoly on the supply of coins and banknotes, the government cannot yet open the inflationary floodgates; market participants are still free to evaluate the
of interest, unimpeded by international preoccupations”: an option alleged to be open to all nations, and so a panacea to restore “economic health and strength by the procedures of fully informational rational expectations equilibrium. Access is gained only through the direct compliance of information-possessing agents:
in financial markets and lead to improved economic results. The Federal Open Market Committee (FOMC) began to announce its federal funds rate target in economists, Bernanke was unusually bold in describing the Federal Reserve’s access to and ability to use data concerning financial markets. This knowledge and
should perhaps not be suspended even in times of crisis. Perhaps regulators should openly relax capital requirements instead. Yet however desirable the rule may be on research, for tighter responsibility in issuing financial reports, for broadband access, for sports stadiums, and even for investigating irregularities in
In exchange for the foregone interest (and a small fee) the purchaser receives access to an alternative payments system which avoids the risk of loss associated money-supply measure is an accident waiting to happen. So then, to repeat my opening salvo, are you using the wrong money-supply metrics as inputs into your
subtracted some amount of the wealth of the citizens. Would it be licit to force open the granary of a subject and steal from him part of his grain and then politicization of monetary policy that makes Mariana such a giant. He may have accessed Nicholas Oresme’s work, he surely read Salamancan Neo-Scholastics like
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.