Monetary Theory
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Is There Such a Thing as Good Inflation?
Unlike the ongoing price inflation that is typically caused by central-bank expansion of the money supply, the price inflation generated by diminished supplies of goods is a one-shot affair.
Is There Such a Thing as Good Inflation?
Unlike the ongoing price inflation that is typically caused by central-bank expansion of the money supply, the price inflation generated by diminished supplies of goods is a one-shot affair.
Bitcoin’s El Salvador Option
If Bukele really wants monetary freedom for El Salvador, he should not have presented them with what, effectively, is a government handout for bitcoin hodlers and the companies behind the Strike app and other potential intermediaries.
How Governments Killed the Gold Standard
The gold standard disappeared because governments destroyed it. Here's how it happened. Private-sector money is always an enemy of the state.
An Austrian Critique of Robert Mundell’s “Impossible Trinity”
The impossibility theorem, developed by Nobel-winning economist Robert Mundell, paints a false tradeoff between the free movement of capital, fixed exchange rates, and effective monetary policy. Under a gold standard, all three are a possibility.
Central Banking as an Engine of Corruption
Hamilton was "so bewitched & perverted by the British example," wrote Jefferson, "as to be under thoro' conviction that corruption was essential to the government of a nation."
Why Is Economic Journalism So Bad?
The financial press gives us the what, when we need the how and why. Economic journalism needs a reset.
How the Fed Helped Pay for World War I
Just as kings debased coins to help pay for their wars, the Fed used inflation to help pay for US participation in World War I. It did so by creating and issuing dollars in return for government debt.
