Ordinary people cannot stop the Fed and the government from inflating the currency, but they can take measures to shield themselves from some of its harmful effects. Mark Thornton presents a few ideas on how it can be done.
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.
While her record is hardly perfect, Judy Shelton has been a rarity among monetary economists: an advocate for gold and sound money.
Mainstream economists claim money has purchasing power because the government issuing the money has so declared. That makes no sense.
Many people are selling their gold to make ends meet. Others are buying gold as insurance against mounting price inflation.
Progressives are claiming that corporate profits are one of the causes of inflation. However, if inflation increases consumer prices, it also causes production costs to rise. That is not a recipe for profitability.
Mises Fellow, Mateusz "Matt" Machaj joins Bob to discuss his new booklet from Routledge, which explains how mainstream economists have responded to the recent bout of price inflation.
Mainstream economists claim money has purchasing power because the government issuing the money has so declared. That makes no sense.
Many people are selling their gold to make ends meet. Others are buying gold as insurance against mounting price inflation.
In 1959, Ludwig von Mises gave lectures on economics in Argentina, where the economy was in steep decline. In the 1920s, Argentina was one of the world's wealthiest countries, but decades of Peronism and inflation started the country on the long road to poverty.
