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?
Could progressive pressure, mixed with escalating economic pressure, push White House decision-makers to replace Jay Powell with an advocate of MMT?
In 1819 America, nobody blamed the effects for the Panic of 1819, they rightly blamed the cause. They blamed the "friendly central bank."
Unlike the ongoing price inflation that is typically caused by central-bank expansion of the money supply, the price inflation generated by diminished supplies of goods is a one-shot affair.
