Power & Market
50-Year Mortgages: The Ripoff of the Century
In finance, memories are short. The mortgage industry makes out with 50-year paper, the consumer, not so much.
Why Individuals Take Center Stage in “Foundation”
A refrain in the television series Foundation is that individuals and individual actions do not matter, but this is even disavowed as the story is told.
A Note on Exchange-Rate Notations
A student asked why the exchange rate notations that Hülsmann uses class are different from what he found in the financial press.
The Logic of Monetary Collapse: A Rejoinder to Hülsmann
The issue is conceptual: whether a currency can cease to function as money when its demand collapses, irrespective of whether its quantity increases, remains constant, or even decreases.
The Real Affordability Agenda
Politicians of both parties ignore the real cause of price inflation: the Federal Reserve.
From Allentown to the Present: How the Iron and Steel Industry Changed
Billy Joel memorialized the workers of the steel industry in his 1982 song “Allentown.” While popular culture seems to dwell on tragedy, the creative-destruction of the market process also involves progress.
The Nature of Hyperinflations: Response to Bagus
It is erroneous to think that shutting down the central bank would exacerbate price-inflation or even entail a hyperinflation.
Congressional Republicans Must Stand Up to the President on Venezuela!
When Congress fails to check the commander-in-chief, the constitutional duty of the legislature is lost. Only two Republican senators recently stood up when a vote reminded the president he must seek approval before attacking Venezuela.
What FDR Did to Our Money
For some 90 years, Americans have lived under the paper-money system that FDR established.
