Fiscal Theory

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Investors Finally Fear the Inflation Precipice

The FedBusiness CyclesFiscal Theory

02/10/2011Mises Daily Articles
If Bernanke has to choose between saving rich bankers or the dollar, I am confident he will choose the former. We have good reason to expect rising prices and no dramatic efforts to reverse course.
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The Reality of the Tax Deal

Taxes and SpendingFiscal TheoryInterventionismOther Schools of Thought

12/16/2010Mises Daily Articles
The issue is whether current tax rates — which had been in place since 2003 — would stay the same, or whether they would go up in 2011. From this perspective, then, this has been a debate over a tax hike, not a tax cut.
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Money: Sound and Unsound

EducationFree MarketsFiscal TheoryGold Standard

12/03/2010Mises Daily Articles
The principle of sound money consists in affirming the market's ability to choose and maintain money (and the enormous benefits this has provided to society) and also in opposing any government meddling in money.
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Can the Fed Become Insolvent?

EducationThe FedFiscal TheoryInterventionism

11/29/2010Mises Daily Articles
Many academic economists are beginning to worry: Could the Federal Reserve itself become insolvent? In this article I'll explain these fears and I'll argue that the Fed, with its printing press, cannot really go bankrupt the way other corporations can.
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Quantitative Easing: It's Sinking the Fed's Status

The FedBusiness CyclesFiscal TheoryPolitical Theory

11/18/2010Mises Daily Articles
Uh oh, Mr. Bernanke, the natives are getting restless. Now it's not just Sarah Palin and Glenn Beck, or foreign central bankers, but more and more American economists who are starting to openly challenge the second round of "quantitative easing."
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Currency Wars

Booms and BustsGlobal EconomyFiscal TheoryMonetary Theory

11/15/2010Mises Daily Articles
When governments try to confer an advantage to their exporters through currency depreciation, they risk a war of debasement. In such a race to the bottom, none of the participants can gain a lasting competitive edge.
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Should the Fed Be Concerned about Low Price Inflation?

The FedFiscal TheoryInterventionismMoney and Banking

10/26/2010Mises Daily Articles
A so-called lowering of "real" interest rates by means of money pumping is basically an act of a diversion of real wealth from wealth generators to various nonproductive activities. Hence, contrary to popular thinking, the Fed's attempt to lower the real interest rate in fact leads to a higher real...
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QE2 and the Alleged Deflation Threat

The FedFiscal TheoryInterventionismOther Schools of Thought

10/21/2010Mises Daily Articles
The justification given for "QE2," another round of quantitative easing, is of course the threat of deflation. But if we actually look for ourselves, we see that prices are not falling — not that it would be bad if they were.
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Currency and Banking Reform in 19th-Century Britain

The FedWorld HistoryFiscal TheoryMonetary Theory

09/08/2010Mises Daily Articles
"As a response to the actions of the Bank of England, the Currency School proposed a simple, yet powerful limitation on the bank: a 100-percent reserve requirement on the issue of new bank notes."
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Affording the Unemployed

Booms and BustsU.S. EconomyFiscal TheoryInterventionism

08/18/2010Mises Daily Articles
Discarding the possibility of a change in public labor policy, the only means of restoring equilibrium in the labor market is through a sustainable increase in aggregate demand for labor — an increase in private investment.
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