Global Economy

The cause of the European debt crisis, in its simplest form, was overspending by (mainly southern) European governments during the last decade, and especially after the 2008 financial crisis.

Fergusson presents a compelling argument that the central bankers of Europe did not believe that the quantity of money had anything to do with the price level. And I suppose you think that our modern Fed rulers understand at least this much.

In this small gem of a book Professor Bagus has given us much more than an explanation of why the euro will fail the common man in Europe.

Any diamond that enters the market must be certified by the WDC; those that aren't are considered conflict diamonds, and the individuals involved are prosecuted. Regulatory authority is used to control the global supply and price.

At the root of the current crisis in Europe are the actions of the European Central Bank. As Philipp Bagus explains in his new book, only a realization of the true costs the euro has imposed on the continent in the past can shed light on the path to future recovery.

One would think that being on the inside of many decades of careening one step ahead of monetary chaos might induce a sober, even cynical, spirit — that it might lead the insider to call for keeping one's metaphorical air-raid shelter well stocked and at the ready.

The present paper is the continuation of an intra-libertarian debate over immigration.

QE2 is a direct response to deficit spending, which obliges the government to issue more bonds. With QE2, the Fed supports the state by buying these bonds. The Fed thereby actively helps the government in its Keynesian policies, which disrupt recovery.

Our health and living standards have virtually nothing to do with charity and virtually everything to do with entrepreneurs solving problems. Had we depended on only alms and goodwill to elevate our living standards, we would still be squatting in mud huts.

The Creed goes: the United States must have a forward presence everywhere. It must be set up to project its power globally, whether that means boots on the ground, bombs from the sky, or knives in the dark.