Monetary Theory

"Only savings can allow for sustainable economic growth."

These increases may not show up in the price of US financial assets, but they will rear their ugly heads at the gas pump and grocery checkout.

Economic theory suggests that unaccountable, legally protected monopolies are inefficient.

Politicians, bureaucrats, regulators, modern financial commentators, Nobel Prize–winning economists and central bankers have proven they lack any knowledge of what money is and what causes business cycles.

"Good government" seems to involve reckless spending by Washington, endless printing at the Fed, and bailout after bailout.

Let us send a delegation to Hades to resurrect Ludwig von Mises, Thomas Jefferson, John Locke, and Aristotle to replace the corrupt, debased politicians we now have.

"Real GDP has nothing to do with the real world."

Unfortunately, welfarist ideas are still careening down the highway with as much dangerous momentum as was the case when Röpke was still alive.

Popular rhetoric notwithstanding, government cannot be run like a business.

The observers today most reminiscent of our forefathers are the armies of tea partiers and bloggers, incensed that Main Street has gotten the shaft, first from the evils of hyperextended credit, and doubly now that modern solutions may prolong the madness.