Monetary Policy

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Frank Shostak

Milton Friedman and the Monetarists believed that fluctuations in the money supply caused the boom-and-bust business cycles. Their solution—keeping money growth slow and steady—would still lead to business cycles.

George Ford Smith

Through its coercive monopoly over money creation, government constantly engages in silent theft through inflation, all done in the name of “stimulating” the economy.

Frank Shostak

According to mainstream economists, inflation aids economic growth while deflation impairs growth. Austrian economists, however, point out that in much of US history, economic growth was accompanied by deflation.

Jonathan Newman

Mainstream economists have justified the creation of the Federal Reserve because they claim that a growing economy—especially the banking system—needs an “elastic” currency. In other words, the economy “needs” at least some inflation. Austrian economists know better.

Douglas French

The gold price is off and running this week. But, money creation isn’t listed as a cause.

Frank Shostak

Inflation isn’t just about higher prices. It is how unwarranted increases in the money supply touches off wealth transfers from those who are less-well off to people who are close to the new injections of money into the economy.

Artis Shepherd

Inflation is not going away anytime soon, and it is ravaging the American middle class. Unfortunately, no one in Washington is interested in doing what is necessary to reverse this scourge.

Lucas Peters

Nixon’s 1971 decision didn’t just close a gold window—it opened the door to a fiat future of perpetual inflation, asset bubbles, moral hazard, and chronic economic dysfunction.

Carl S. Black

The Federal Deposit Insurance Corporation (FDIC) is widely seen as a pillar of financial stability, but it is actually it is a warning label that confirms systemic fragility.