Congress and the others in political power in this country will not be satisfied until they have fully destroyed the US economy and replaced it with something we thought would disappear when the Iron Curtain finally fell so many years ago.
We define a bubble as the outcome of activities that have emerged on the back of the loose monetary policy of the central bank. In the absence of monetary pumping, these activities would not have emerged.
In sum, the real cause of continually rising food prices is the printing of money by world governments. And the real cause of actual food shortages is the prevention of profitable global trade in food by the ill-advised policies of the governments of the very people who are starving.
Such is not the stuff of shortages but of market prices coordinating the allocation of scarce resources exceptionally well — and in reality, not just theory.
No subject is so much discussed today — or so little understood — as inflation.
[Chapter 11 from Human Action.] Acting man transfers the valuation of ends he aims at to the means.
Increased capital in proportion to labor is the only means of producing more without the number of workers increasing.
The Royal Swedish Academy of Sciences has decided to award The Sve
