Monetary Theory

Why should we care about his predictions concerning the economy or his recommendations for how to end the slump? The answer, of course, is that the Federal Reserve has the power to destroy the world economy.

Hume concluded his penetrating analysis with an ultra-hard-money policy proposal — 100 percent specie-reserve banking.

We cannot eat money. We cannot wear money. We cannot live in money. Money can’t buy you love, writes Shawn Ritenour.

The federal government is digging itself deeper and deeper into debt at an alarming rate.

From the Libertarian Review, May 1979, Rothbard provides a well-rounded discussion of the strengths and weaknesses of a balanced-budget amendment.

What if this law in the state of Utah catches on? What if people started to price goods and services on the basis that $20 equals an ounce of gold?

Lord Keynes was constantly worried that people were saving too much and consuming too little — thus the need for more and cheaper money to stimulate the economy. Mr. Bernanke is nothing if not a good Keynesian, and his low rates make even the savviest question whether to forgo consumption.

The only reason this nonsense is sustainable is due to the promise of the Federal Reserve to back all this spending with money creation.

If we were to take the greatest economists from all ages and judge them on the basis of their theoretical rigor, their influence on economic educat