Money and Banking

The economic purpose of capital markets is to provide a nexus between savers and borrowers for the financing of productive investment, writes Robert Blumen.

Inflation erodes morals in creeping, insidious ways. It replaces social bonds with government controls.

With the Eurozone’s global systemically important banks geared up to 30x, rising bond yields of little more than a few percent could collapse the entire euro system.

Central bankers are being disingenuous when they insist that rising prices are a temporary phenomenon.

History tells us that government is at heart a counterfeiter and therefore cannot be trusted to control money. This is true of both autocratic and popular government. 

"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.