The Inflationist View of History

Everybody knows that Lord Keynes favored an inflationary monetary policy. He thought that expanding the money was a way that the business cycle could be bypassed, by making booms perpetual. Of course, Austrian business cycle theory teaches us that this policy won’t work and, if continued, will result in hyperinflation, destroying the use of money completely. Keynes also had an inflationist view of history, according to which the general trend of prices tends to be upward in the long run. He thought this would lead to progress, for reasons different from his business cycle theory.

Tariffs Won’t Save the US Dollar

In a November 30 Truth Social post, President-elect Trump threatened BRICS states—Brazil, Russia, India, China, South Africa, Iran, Ethiopia, Egypt, and the United Arab Emirates, plus more states in the process of joining—with 100 percent tariffs on their exports to America if they dared to attempt replacing the US dollar as an international trade currency: