I’m sure that most of the discussions in the closed-door meetings at the Fed’s recent Jackson Hole Symposium centered on the problems of printability. They certainly won’t be part of the paper presentations or press conferences.

The US government has been spending like a teenager with an unlimited credit card that they don’t have to pay off since going off the gold standard.

Climate change may be real. Temperatures may be rising, human activity may contribute to that rise, and environmental problems deserve serious attention. None of these propositions, however, establishes that governments possess the knowledge required to reorganize an entire economy in response to climate projections.

Since fiat currencies, per se, are not redeemable for anything other than themselves, their very existence depends upon confidence. The issuing authority must not inflate the currency’s size to the point that it begins to lose purchasing power in the market at an abnormal rate. As long as the public is willing to hold the currency, its purchasing power need not depreciate at a noticeable rate.

Conscription is a form of indentured servitude. Murray Rothbard argued that everyone has a natural right to self-defense, but “we have no moral right to use coercion—the bayonet or the revolver—to force someone else to defend us.”

Joseph Stiglitz, et al. Most “mainstream” economists are basically regime technocrats who pose as scholars of economics.  

Patrick Newman is a prominent young American economist and economic historian who has carved out a special place among researchers of economic history. As a faculty member at the University of Tampa, Florida, he has demonstrated a rare command of economic history, archival documents, and historical analyses through his work editing two books by Murray Rothbard, Conceived in Liberty: Volume V and The Progressive Era.