Understood properly,  inflation is not a general increase in prices but is an increase in the money supply “out of thin air” which brings about the impoverishment of wealth generators.

When inflation is seen as a general increase in prices, then anything that contributes to price increases is called inflationary. In this framework, not only does the central bank have nothing to do with inflation, on the contrary, the bank is regarded as an inflation fighter.

But, on this Ludwig von Mises wrote,

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The Trump campaign shared a video on social media this week, claiming Joe Biden had ripped off a slogan from British prime minister Boris Johnson.

The most influential book in contemporary political philosophy remains, after nearly fifty years, John Rawls’ A Theory of Justice, supplemented and modified by his later Political Liberalism. As readers no doubt know, Rawls isn’t very friendly to the free market. This raises a problem for some people. They are political philosophers themselves and, like most members of the guild, they admire Rawls. But they also support the free market. What should they do? One way out would be to abandon either Rawls or the free market.

Restrictive measures are those measures undertaken by the authority which directly and primarily are intended to divert production, in the widest meaning of the word, including commerce and transportation, from the ways which it would take in the unhampered economy. Each interference diverts production from the channels prescribed by the market.

Here are my thoughts on which presidential candidate will do less harm to the US economy and why Dwight D. Eisenhower was the best president of the postwar era.