It is not true that capital — once created — will lead to future wealth gains forever into the future. Only constant adaptation — via entrepreneurs — can make sure that the production process will provide the flow of consumption goods in the periods to come.
The destruction of sound money over the past century stems from actions at the federal level, but there are steps which states can take — and even have already taken — to move toward sound money.
We think the state is taking only our money, but it is also taking our time.
Markets respond with price changes to eliminate money surpluses and money deficits.
M1 and the monetary base are almost equal at this time, but this is unprecedented in modern monetary history, as usually the monetary base is a fraction of M1.
Translation of the appendix to Juan de Mariana's most libertarian book De rege et regis institutione.
This an engaging and intriguing account of how global currencies, such as British sterling and the U.S. dollar, have risen to global dominance in the international monetary arena, and how currencies such as the Chinese renminbi could follow in their footsteps.
The dangerous political and financial actions of the Continental Congress looks like the modern-day Fed on steroids.
Our inflationary financial system benefits the wealthy at the expense of the poor.
Keynes believed that all economic problems could be overcome with global inflation. This would bring about a new utopian age in which only social and scientific problems would remain.
