How Much Money Should There Be?

Most economists believe that a growing economy requires a growing money stock, on grounds that growth gives rise to a greater demand for money which must be accommodated. Failing to do so, it is maintained, will lead to a decline in the prices of goods and services, which in turn will destabilize the economy and lead to an economic recession-or, even worse, depression. 

The Choice

Either the U.S. should reclaim its traditional policy of free trade and peace and thereby end its international military interventions, or it should wage unrelenting war against any group or government that resents and predictably responds to U.S. policy.

The Dam Breaks

It would be the supreme irony if, in Greenspan’s eager rush to bail out his constituents at the first whiff of every trouble from Y2k to WTC, all he and his myrmidons on the lower slopes of Olympus have accomplished is to topple the very banks they are there to protect.