Monetary Theory

From the market point of view the Fed is a bankrupt institution.

The chief objective of present-day government interference is to intensify further credit expansion. This policy is doomed to failure. Sooner or later it must result in a catastrophe.

Shiller's proposal, in contrast, gives the government a perverse incentive to raise tax receipts while strangling GDP. Isn't the government doing a great job of that already?

Hoppe definitively established that the unhampered market is superior in improving social welfare.

Those Americans who twice succeeded in doing away with a central bank were aware of the dangers; but they failed to see that the evils they fought

Mr. Calandro not only strives to teach a method to avoid the delusion, but to attempt to profit from the resultant cleaning out when the bubble bursts.

Thus, Mankiw's solution for dealing with unprecedented excess reserves is for the Fed to create even more reserves in order to pay bankers not to make new loans. Does that sound like a good long-term plan for the economy?

Money then, for Buridan, is a market commodity, and the value of that money, just as in the case of other market commodities, "must be measured by human need."

Dionysius's modern counterpart not only has ministers to advise him but also professors of economics to explain to the public how the abundance in their pantries is improved by inflation.

"Just as serious as the economic disruption are the social consequences of inflation."