Top 10 Most-Read Mises Daily Articles in May
These were the most-read Mises Daily articles during the month of May 2015:
1. Financial Warfare and the Declining Dollar by Ryan McMaken
2. Seven Changes Needed in Ferguson and Baltimore Right Now by Mark Thornton
3. Why Do We Celebrate Rising Home Prices? by Ryan McMaken
Technology Needs Capital To Produce Economic Growth
VII. Deposit Banking
1. WAREHOUSE RECEIPTS
VI. Loan Banking
We have so far seen how price levels are determined, showing how they are set by the interaction of the supply of and demand for money. We have seen that the money supply is generally the dominant force in changing prices, while the demand for money is reactive either to long-term conditions or to changes in supply. We have seen, too, that the cause of our chronic inflation is continuing increases in the supply of money, which eventually generate inflationary expectations that aggravate and accelerate the inflation.
V. The Demand for Money
Let’s analyze the various elements that constitute the public’s demand for money. We have already seen that the demand curve for money will be falling in relation to the purchasing power of money; what we want to look at now is the cause of upward or downward shifts in that demand curve.
1. THE SUPPLY OF GOODS AND SERVICES
Rockwell: We Need a Separation of Banking and State
In this essay from 2001, Lew Rockwell discusses what were then new mandates on banks to spy on all depositors and investors. Such efforts are now commonplace, of course, and have merged into the current war on cash.
Spy vs. Spy
by Lew Rockwell
Will Scottish Nationalism and the Rise of China Make London the New Center of the World?
In an interesting article at the NY Observer, Bernie Quigley suggests that the rise of Scottish nationalism (and the SNP’s victories in the most recent election) has led to a rise of English nationalism:
Economists Don’t Use Mathematics ‘the way physicists or biologists or engineers use it.’
IV. The Supply of Money
To understand chronic inflation and, in general, to learn what determines prices and why they change, we must now focus on the behavior of the two basic causal factors: the supply of and the demand for money.
