How to Think about Monetary Intervention
Value is a moving target because consumers want change over time and innovations and new opportunities. The constant adjustments mean the market is best understood as a process.
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It Didn’t Begin with FDR: Currency Devaluation in the Third Century Roman Empire
Roman Keynesianism that ruined the empire and destroyed the Roman economy.
World Dollar Hegemony Is Ending (and That May Be a Good Thing)
The dollar's petrodollar status has led the Federal Reserve to irresponsibly inflate the currency. The rest of the world has noticed and is looking for alternatives.
Individual Time Preferences, Not the Central Bank, Determine Real Interest Rates
The Fed's predictable response to inflation is based on erroneous economic thinking common with Keynesians. Only a free-market approach can reduce inflation and restore true market interest rates.
World War I: The Great War Was also the Great Enabler of Progressive Governance
Historians praise the US entry into World War I because it enabled an Allied victory. But it also led to the economic disasters of the 1920s and ’30s.
What I Learned from my Grandfather about Money
The author recalls the 1922 peace dollar his grandfather gave him sixty years ago. Real money.
Recession Coming to the UK
A house of cards. A sandcastle. Dominoes. Lots of imagery available to describe our global, socialist economic system.
Do “Technology Shocks” Create the Boom-Bust Cycles?
The 2004 Nobel Prize in economics was awarded to two economists for their claim that "technology shocks" cause boom-bust cycles. They have it wrong.
American Chip “Independence”: Protectionism by Another Name
While both the Left and Right celebrate the government's new drive to subsidize American microchip manufacturing, we should remember that political "investments" always result in crony capitalist disasters.
Inflation Is Not Price Increases. Inflation Causes Price Increases.
The common view of inflation is that it is defined as a general increase in prices. Actually, inflation is expansion of the money supply that results in price increases.
