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While modern monetary theory has provided some distraction for public and commentators alike, the war on cash goes on. In the latest issue of the Cato Journal , the distinguished economic historian Michael Bordo and his co-author Andrew Levin lament the failure of the experiments in unconventional monetary policies of the last decade to stimulate

ABSTRACT : In recent years some economists have begun to doubt the scientific standing of the standard Austrian theory of the origin of money. They seem to think that it is only one possible solution to the problem of accounting for money’s value. Of these economists, Gary North (North 2012b) has presented the most cogent counter-interpretation to

Donald Trump has not had an easy, straight-forward relation with the Federal Reserve. He has both claimed to be a low-interest rate person and accused the Fed of keeping interest rates too low for political reasons. He has also expressed regret at appointing Jerome Powell and the White House has even explored the possibility of firing or demoting

There is a changing of the guard at the European Central Bank this year with two important new appointments. Philip Lane, the governor of the Irish central bank, was appointed chief economist of the ECB back in June. And and the current head of the IMF, Christine Lagarde, was recently nominated to succeed Mario Draghi as president of the ECB in

Joakim Book has recently published an essay at AIER arguing that Rothbard was wrong to change his mind about free banking in Scotland. Rothbard had originally praised the episode of Scottish free banking in his 1983 book The Mystery of Banking , but then changed his mind in a 1988 essay on The Myth of Free Banking in Scotland . While the topic has

There is a growing genre of literature that can best be described as apologias for Ebenezer , the aim of which is to show that Ebenezer Scrooge, the main character of Dickens’s classic Christmas tale, was really a great man, unfairly put upon by spectral busybodies and hand-wringing underlings . A peaceful and honest man, Scrooge was really the