John Maynard Keynes derided gold-based money as a "barbarous relic," yet it was gold that enabled a long regime of honest money -- and the advance of civilization.
Critics of capitalism claim that it is responsible for creating inequality in society. Yet the precapitalist societies enforced inequality in a rigid social structure.
For nearly two decades, business, academic, and political elites have spread the fiction that central banks can engineer prosperity by printing more money. Markets now are discrediting that fairy tale.
One hardly can imagine a better tool of social control than a digital currency. Not surprisingly, US monetary authorities are moving in that direction.
Like the police in similar communities, the Moscow, Idaho police have long focused on petty drug offenses while more serious violent crime and property crime receives far less attention.
There appears to be a six-million-man gap between the number of men in the prime age group—age 25–54—and the number of those men actually in the workforce.
