Action Trumps Sound Bites

In an editorial in the Wall Street Journal economist Douglas Coate suggests a need for “Improving the GOP’s Free-Market Pitch.” He correctly points out, “Capitalism’s virtues don’t easily reduce to sound bites, but that isn’t a reason to give up.” Then he provides a reasonable summary of the benefits of free markets or capitalism including an obligatory reference to Hayek and concludes and provides a suggested sound bite from

Tho Bishop

Tho is Editorial and Content Manager for the Mises Institute, and can assist with questions from the press.&nbsp

Sub-Zero Interest Rates as an Endless Daylight Saving Time

We all know about Milton Friedman’s money helicopter idiom and how President Obama’s architect in chief of Quantitative Easing used it to justify his “Great Monetary Experiment.” Less well known is Friedman’s idiom about daylight saving time, how he used this to illustrate the case for flexible exchange rates, and how it is now apparently justifying the plunge of money market rates in Europe to sub-zero levels.