Capital and Interest Theory

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The slow, systematic destruction of the dollar's purchasing power

Money and BanksCapital and Interest Theory


It's interesting to look the producer price index and consider how extreme and relentless are price increases over time, and it strikes me that the lack of public outcry about this must represent some sort of price-trend acculturation that has taken place. We have come to expect it, the way we...

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Another Reason to Reform Patent Law: Touch Off A Recession!

Booms and BustsCapital and Interest TheoryPhilosophy and Methodology


And here I thought recessions and the business cycle had something to do with state manipulation of the money supply. Now we have a new culprit: Patent Reform. So here's the deal. There's increasingly hyperbolic...

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Capital: It's so easy to infuse it!

Capital and Interest TheoryInterventionism



A day after the Federal Reserve disappointed investors with a modest cut in interest rates, central banks in North America and Europe on Wednesday announced the...
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The Mirage of the Mortgage Fix

Capital and Interest TheoryInterventionismPrivate Property


The sea of inflationary credit is the core problem behind the falling dollar, the subprime crisis, the housing meltdown, not to mention the rise in the national debt and a thousand other problems. No one in Washington seems to understand the reason for the crisis, much less how to fix it. A good...

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Mugabenomics in action

Money and BanksCapital and Interest TheoryMoney and Banking


It appears that the government of Zimbabwe is giving the Hungarian pengo, a run for its money (literally):...

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GG on Capital

Capital and Interest Theory


Sorry to revisit the same topic so shortly, but in that same AA edition cited in my previous post, I simply cannot praise Garrett's piece, entitled 'Mythologies of Reconversion', enough. This is not just a witheringly effective dismissal of the central planner's and inflationist's folies de...

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My letter re: Friedman's take on the Great Depression

Booms and BustsCapital and Interest Theory


THE FREEMAN Letters to the Editor Thanks to Milton Friedman's brilliance, charisma and diplomacy he became an ardent spokesman for many free market reforms in this country. And now Ivan Pongracic, Jr. (The Great Depression According to Milton Friedman, September 2007) gives him credit for...

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The Piracy Paradox

Capital and Interest TheoryEntrepreneurshipProduction Theory


My post Knock It Off discusses Jacob Sullum's Reason article about knockoffs in the high-fashion industry, and the lobbying by designers for copyright-like protection of clothing designs. A recent article in The New Yorker,...

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