Monetarists have long believed that the Fed should pursue policies of low inflation in order to counter the effects of lower prices through enhanced productivity. Thus, they reason, overall prices will remain stable. Such policies actually promote economic instability.
Monetarists have long believed that the Fed should pursue policies of low inflation in order to counter the effects of lower prices through enhanced productivity. Thus, they reason, overall prices will remain stable. Such policies actually promote economic instability.
Monetarists and rational expectations economists believe that if monetary policy is transparent, then increases in the money supply will not have negative effects. The actual results say otherwise, as introducing new money into the economy leads to economic instability.
Mark Thornton warns that the US isn’t heading for a soft landing, it’s drifting into Mises’s crack-up boom.
If wealth could be created out of scraps of paper or their digital equivalent, world poverty would be a thing of the past. Remember, the commodity money takes care of itself—and us too, if we let it.
With Fathers Day approaching, fatherhood is one more casualty of American progressivism, resulting in many social pathologies. Unfortunately, many conservatives and progressives seem united in the belief that the situation requires more government intervention.
The mainstream economic belief is that a growing economy needs a growing money supply to ensure “price stability.” Austrian economists, however, believe that there is no “optimum” money supply, which means government should not engage in monetary expansion.
MMT and chartalism claims that money is a creature of the state and is valued because of state action. The fact that tobacco acted as colonial money independently of the state demonstrates this to be false.
David Brady, Jr. reviews Jonathan Newman's latest children‘s book that explains money in a way that even modern adults can understand.
David Brady, Jr. reviews The Magic Coin by Dr. Jonathan Newman, a children‘s book that explains money in a way that even modern adults can understand.
