Monetary Theory

What could these two thinkers, considered to be opposites, have in common? It turns out that Karl Marx inherits from Adam Smith a very basic error, one which has monumental consequences and has changed the world forever.

Adam Smith tells us in his famous treatise on the wealth of nations...

In his new NBER working paper Martin Feldstein writes that "Reducing the large current account deficit will require both a higher rate of national saving and a more competitive dollar."

I love it: "a more competitive dollar"

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The ancient transgressions of murder, pillage, bestiality, thievery, and rape still shout from the headlines. O Tempora, O Mores, as the ancients proclaimed in dismay a couple millennia ago: meaning what crummy people, what crummy times. They ought to read this morning's paper — they'd yearn for...

Sophistpundit gives What Has Government Done to Our Money (print,...