Most people—and especially most economists—not only are ignorant of what money actually is, but how and why it became part of our economy in the first place.
There are only two ways human cooperation occurs: through voluntary means or through coercion. The free market stands for voluntary cooperation; coercion and violence are the means of the state.
In its effort to patch together a working financial system out of postwar crises, the Federal Reserve would wildly exceed its mandate, flooding the world with dollars.
Bob critiques a Guardian article from an economist favoring price controls, and explains his argument with Joe Weisenthal about the social benefit of saving actual cash.
