Alexander Hamilton’s poisoned legacy
Alexander Hamilton hated decentralization, and wanted a strong central government, high taxes, and a central bank. Hamilton's legacy today dominates in Washington, DC.
Alexander Hamilton hated decentralization, and wanted a strong central government, high taxes, and a central bank. Hamilton's legacy today dominates in Washington, DC.
French credit default swaps have soared to a post-2020 record of 39 points. Many commentators blame the rise of the National Front for market turmoil. However, none of this would have happened if France’s debt was low, finances were strong, and the euro area enjoyed healthy economic growth.
Keynesian economists believe that the key to increasing economic growth is increasing the supply of money in circulation. Money, however, is a means of exchange, not a means of payments. The difference is vital to understanding economics.
Central banks intervene in order to “create demand,” and then they intervene in order to try to mitigate the damage they caused earlier. This is a never-ending scenario of economic destruction.
Keynesian economists have no good explanation for stagflation, rising rates of both inflation and unemployment. However, the Austrian School has long pointed out that sustained inflation has a predictable pattern that leads ultimately to stagflation.
State-sponsored fiat money has been the norm for more than ninety years, but its very instability makes it vulnerable to a regime of sound money.
Keynesian economists believe that the key to increasing economic growth is increasing the supply of money in circulation. Money, however, is a means of exchange, not a means of payments. The difference is vital to understanding economics.
Central banks intervene in order to “create demand,” and then they intervene in order to try to mitigate the damage they caused earlier. This is a never-ending scenario of economic destruction.
Contrary to mainstream economists, credit expansion that is not backed by real savings leads ultimately to an economic downturn.
As the US economy falters and people continue to fall behind, the Austrian business cycle theory provides the best explanation for what is happening, even if the elites don't want to hear it.