Paul Krugman is desperate to declare victory over inflation and that a soft landing has been achieved. His latest victory lap op-ed cites the Atlanta Fed’s survey of Business Inflation Expectations (BIE), which has settled down to 2.2 percent for the coming 12 months.

Today, Serbia does not enjoy a reputation as a free country. The philosophy of strong hand, top-down organization of society, a socialist understanding of economy, and fierce nationalism are its trademarks.

The legacy of socialism with a human face, of which I have written elsewhere, has entrenched a statist mentality among the population and has shaped the understanding of economics among the political and intellectual elite.

The philosopher Terrance Tomkow (1950-2024) passed away last Friday night, January 12, 2024.  He was best known as a philosopher of language and made important contributions to metaphysics, the philosophy of science, and the free will problem. For most readers of the Mises page, though, what will probably be of most interest are his posts about the origin of property rights. These posts advance a new and philosophically deep theory that is broadly compatible with libertarianism.

To save our economy from destruction and from the eventual holocaust of runaway inflation, we the people must take the money-supply function back from the government. Money is far too important to be left in the hands of bankers and of Establishment economists and financiers. To accomplish this goal, money must be returned to the market economy, with all monetary functions performed within the structure of the rights of private property and of the free-market economy.

We have already described one part of the contemporary flight from sound, free market money to statized and inflated money: the abolition of the gold standard by Franklin Roosevelt in 1933, and the substitution of fiat paper tickets by the Federal Reserve as our “monetary standard.” Another crucial part of this process was the federal cartelization of the nation’s banks through the creation of the Federal Reserve System in 1913.