Money and Banking

"The worst failures of money, the worst things done to money, were not done by criminals but by governments."

The Roman Empire crumbled to dust because it lacked the spirit of liberalism and free enterprise.

"My preference would be that all state central banks would be shut down and razed to the ground, so that true money again could be produced by private firms. If not, at least the competition between national currencies should be as great as possible." –Murray Rothbard, 1993

A history of statism and credit expansion that demonstrates the failure of Keynesian policy. (Analysis by Jeffrey Herbener)

In this interview with Jeff Deist, Dr. Murphy gives us a succinct lesson in the history of money, business cycle theory, and on the origins of monetary inflation. 

The gold standard supposed a limit to the fiscal voracity of governments, and suspending it unleashed the perverse proclivity of the states toward indebtedness and to pass the current imbalances on to future generations.

How, and to what extent, would fiduciary media emerge in a pure market economy? Hansen argues that holding fiduciary media instead of money is an entrepreneurial error.

The gold standard supposed a limit to the fiscal voracity of governments, and suspending it unleashed the perverse proclivity of the states toward indebtedness and to pass the current imbalances on to future generations.

On Friday, Twitter CEO Jack Dorsey tweeted a link to Rothbard's essay "Anatomy of the State."

The question that arises for the state ruler is: How can I free myself of two effective constraints on my power: tax-resistance in the form of falling tax revenue and the need to borrow from and pay interest to banks?