"Sound money and free banking are not impossible; they are merely illegal," Hans Sennholz wrote. Today, the barriers to competition in money and free-market banking are numerous, but even a few non-radical changes could open up a new world of options and competition for bankers and consumers.
As the money supply fluctuates, so does the demand for money and for goods and services. We see this in the stock market, but the effect is not instantaneous, and we must be mindful of the time delay.
While not at all perfect, the classical gold standard of the late nineteenth and early twentieth century facilitated some of the greatest leaps in economic prosperity ever witnessed. Marcia Christoff-Kurapovna surveys the views of central bankers and economists of the time.
Patrick Barron writes:
Recently a friend sent me the updated Wikipedia link about the newly formed Asian Infrastructure Investment Bank that has been in the news so much, mostly gathering glowing endorsements that this is a great undertaking.
Interviewed by host Phil Pepin, Mark Thornton discusses the fed’s rol
Why is it that only former Fed officials are willing to say the truth about the economy and monetary policy. I know they don't know the whole truth and they are blinded by power, but why do they always wait till they are "former" to tell the truth.
There’s more to the global adventures of the greenback than meets The Economist’s eye.
March’s economic report from the National Association of Credit Management dropped to the lowest it’s been this year. The combined index fell from 53.2 in February to 51.2 this month.
Once a recession sets in, markets can only repair themselves if prices — including wages — are allowed to fall where necessary. The resulting increases in real interest rates are the key to spurring new economic activity.
