When we talk about demand for money, what we really mean is the demand for money's purchasing power. After all, people don't want a greater amount of money in their pockets; they want greater purchasing power in their possession.
Even though research commenced in the 1970s, behavioral finance has only now gained wider currency with its terminology and ideas more widely disseminated and accepted.
Recently, Paul Krugman published his own critique of the Bush tax cut in a short, popular book entitled Fuzzy Math.
It is the inevitable consequence of Fed interest-rate manipulations to disturb, disrupt, and disarrange economic activity, writes Hans Sennholz.
Tax cuts are always a joy. But let's dispense with the fiction that they constitute an economic stimulus. For that, we need an increase of savings and dramatic spending cuts.
The Fed, the media, and most economists agree: Spending is what drives an economy forward. Frank Shostak shows why this view is wholly incorrect.
The teachings of Carl Menger and Ludwig von Mises offer the answer to those who say we should dismantle civilization to meet the supposed needs of nature. A very powerful speech by George Reisman.
Tax cuts are great, but there is a missing element in Bush's budget: any attempt to cut outlays. New spending must be paid for somehow, someday, writes Frank Shostak.
Mises's "regression theorem" demonstrates that money must have a preexisting demand as a commodity. What does that tell us about the hype over proposed digital currencies? Timothy Terrell explains.
Dinesh D'Souza's new book on the moral conundrum of success is one of the best popular treatments on the cultural meaning of prosperity to appear in many years. Reviewed by Jeffrey Tucker.
