Monetary Policy as Inflationism

Today all governments and central banks operate under the ideology of inflationism. The underlying principle of inflationism is that the quantity and purchasing power of money determined by the free market leads to deflation, recession, and unemployment in the economy. The inflationist ideology is therefore embedded in the very concept of monetary policy, which can be defined as an increase in the supply of money aimed at lowering the purchasing power below the level determined by market forces.

The Mises Institute is different. We don’t change our positions or our ideology to match the current zeitgeist. Rather, we’re in it for the long haul. Our business is to change the minds of both scholars and the general public. Victory in the battle of ideas doesn’t begin in legislative committee rooms. It begins in classrooms and living rooms.

Economic nationalists are once again fawning over Democratic US senator John Fetterman from Pennsylvania. First it was for his opposition to Chinese-owned US farmland. Now he is opposing the acquisition of United States Steel Corporation (US Steel) by a Japanese company. This acquisition, however, should not be blocked.

Tucker Carlson, who recently announced his own new media network, has been making the podcast rounds, talking to hosts of a variety of different ideological backgrounds. An interview a few weeks ago with Dave Smith had a moment that went viral when both men proclaimed Bill Buckley as a great villain of the 20th Century.

Brain-dead Biden and his gang of neocon controllers plan to steal whatever number of votes is needed to “win” the 2024 election for President. But what happens if they push the American people too far? They might think of sending in troops to suppress resistance, just as Lincoln did in the War Between the States, but what if American soldiers refuse to fire on their fellow Americans? Our enemies have an answer. They plan to allow illegal immigrants from Third World countries to join the armed forces. They will have no loyalty to Americans and won’t hesitate to kill them.

Just before leaving town for Christmas break, the US House gave Americans a last-minute holiday gift: a nearly trillion dollar military spending bill filled with lots of goodies for the special interests and the military-industrial complex. Unfortunately, the rest of America got nothing but coal in its stockings.

Everybody is dunking on Paul Krugman’s latest column, “Beware Economists Who Won’t Admit They Were Wrong,” and rightfully so. He is frequently tricky and slippery (and terribly out of touch).  This column is no exception.

While the nation is rightly worried about the proliferation of antisemitism on its college campuses, another higher education abuse also needs prompt attention.

It’s Christmas on Wall Street as the long-awaited pivot is here, with Jerome Powell announcing the Fed’s giving up on inflation and turning to that long-promised recession.

The Federal Reserve dot-plot, which measures Fed members’ rate projections, went dovish — meaning inflationary — for the first time since the pandemic.