Monetary authorities have come up with numerous clever ways of measuring money. However, they are unable even to define money, much less measure it.

When consumer prices shot up after the massive monetary injections undertaken to counteract the job-killing Covid lockdowns, the political classes called it "price gouging." Indeed, when government inflates, we need all the price gouging we can get.

Americans often have defended the atomic bombings of Hiroshima and Nagasaki as regrettable but necessary for ending World War II. The actual record tells us a much different story.