The term “revisionism” came into use after World War I, when historians like Harry Elmer Barnes, Sidney Bradshaw Fay, and Charles Austin Beard challenged Article 231 of the Treaty of Versailles, which assigned exclusive guilt to Germany and its Kaiser for the outbreak of the world war, with all its appalling destruction and massacres. It was on the basis of that clause that the Treaty imposed on Germany a Carthaginian peace, memorably condemned by J.M. Keynes in The Economic Consequences of the Peace.

Former President and current Republican Presidential Nominee Donald Trump recently renewed his criticisms of the Federal Reserve.

The American 21st century bankruptcy show continues with cities, counties, and local special purpose districts (SPD’s) (local entities) for fire protection, hospitals, libraries, water districts, etc. One common bankruptcy theme was that when a project began and a bond-covenant issued, revenue from the project did not meet predictions, bond payments were not timely, the local entity could not renegotiate the bond payments with the lender(s), and so federal bankruptcy was their best option.

 “As long as it is kept within certain limits, inflation is an excellent psychological support of an economic policy which lives on the consumption of capital.” (Ludwig von Mises, Socialism, pp. 448-9)

In Paul Krugman’s latest column, he claims that Kamala Harris hasn’t advocated for price controls, only a ban on price gouging on groceries. Of course, these are the same thing. Krugman’s own principles text defines price controls as “legal restrictions on how high or low a market price may go.” A ban on price gouging is a legal restriction on how high a market price may go.