On the Digital Future of Markets and Money
Digitization will undoubtedly bring great improvements and new opportunities for peoples’ lives. But digitization also has a downside.
Monetary Theory
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Inflation Then vs. Now: Follow the Money
Bob Murphy and Ross McKitrick discuss the government policies, Fed actions, and banking movements that lead up to the 2008 crisis, and why the current economic situation is different.
The Hydra-Headed Model of Social Change
Adherents of MMT present their ideas in the form of a hydra. Shoot down one idea and another pops up that is just as preposterous. This is no accident.
Say’s Law and the Permanent Recession
Economic growth is not something that just happens. It requires saving. It requires investment and capital accumulation. And it requires the real market process.
The Fed Gets It Wrong on Money Velocity, Too
Money velocity's role in forcing up prices is misunderstood because today's monetary "authorities" fail to consider how new money is injected into the economy.
What Happens When Central Banks Attempt to Tighten? Even More Resource Misallocation
Popular economic wisdom says central banks can counter harmful effects of inflation by raising interest rates. Unfortunately, such moves carry their own forms of misallocation of resources and capital.
Stagflation Comes from Exorbitant Money Creation and Unhampered Government Spending
The Keynesian "stimulus" policies were suppose to reinvigorate the economy. Instead, they have brought stagflation.
Money: What Is It? The More Important Question: Why Is It?
Most people—and especially most economists—not only are ignorant of what money actually is, but how and why it became part of our economy in the first place.
Contrary to What Some Economists Claim, the Fed Can’t Give the Economy a “Neutral” Rate of Interest
Fed chairman Jerome Powell recently claimed they were "targeting" the "neutral" interest rate. The Fed cannot set or even know that rate, for it doesn't come from government authorities.
The Fed Gets It Wrong on Money Velocity, Too
Money velocity's role in forcing up prices is misunderstood because today's monetary "authorities" fail to consider how new money is injected into the economy.
