Over the last century America’s money—the dollar—has come to dominate the global monetary system. It is used not just by Americans, but in other countries, in the global black market, and by importers and exporters. And it is the primary reserve currency for central banks. This status is what Barry Eichengreen calls an “exorbitant privilege,” because it confers numerous benefits to individuals, companies, and governments. Collectively, it also confers the ability for Americans to consume beyond our ability to produce.
The gold “price rule” denotes the monetary reform proposal put forth in various forms by a number of supply-siders, including Arthur Laffer,1 Robert Mundell,
Yang Jisheng, a Chinese journalist, is the author of the 2012 book Tombstone, a meticulously researched and definitive history of the Great Chinese Famine engineered by Mao Zedong from 1958 to 1962, during which 36 million Chinese perished from starvation.
“The gloves are off in the roiling academic dispute over the merits of austerity and the dangers of debt.”
Here is a book review from the Wall Street Journal that gives a good picture of the past and present of China.
May 24th, 2013 will remain in the annals of the Circle Bastiat as an infamous day of self-promotion. There is indeed a second publication which yours truly is most happy to announce: the Russian edition of the Last Knight of Liberalism: Последний рыцарь либерализма: Биография Людвига фон Мизеса (Chelyabinsk: Социум, 2013), 893 pp. Translated by Alexander Kuryaev, Tatiana Danilova, Elena Vasilyeva, Marina Oborina, Yuri Nurmeev, Vasily Koshkin, and Natalia Avtonomova.
Yours truly is happy to announce a new book publication : Krise der Inflationskultur (Munich: Finanzbuch-Verlag, 2013), 320 pp.
Speech (transcript) by Murray Rothbard: The Six Stages of the Libertarian Movement.
The Mises Institute and Mises Univeristy are mentioned and pictured in this column asking Will Think Tanks Become The Universities of The Future?
