It may not have been created in the lab of a mad scientist, but the euro is still a manufactured, cobbled-together currency made from a number of national monetary units. Indeed, it is the perfect Frankenstein currency.
Keynesians believe that if there is a bout of inflation, central banks can slowly guide the economy to a “soft landing” which minimizes unemployment and income losses. Such policies, however, only lead to further boom-and-bust scenarios.
It is no surprise that "inflation" is one of the major political issues this election cycle, but few know what inflation really is, let alone what causes it.
The United States abolished its first three central banks, and this was followed by a period of immense economic growth. End the Fed? We did it before and can do it again.
Taxing "the rich" won't make life more affordable for ordinary people. The true cause of the affordability crisis is inflation caused by central banks.
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.
