Government’s Eternal Hunger for a Free Lunch
Through its coercive monopoly over money creation, government constantly engages in silent theft through inflation, all done in the name of “stimulating” the economy.
Monetary Policy
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Inflation and Economic Growth
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.
Our Economy Has Never Needed an “Elastic” Currency
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.
Investing in Gold: It Makes Sense when Inflation Is High
The gold price is off and running this week. But, money creation isn’t listed as a cause.
Inflation and Embezzlement
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.
The Scouring of the American Middle Class
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.
How 1971 Broke the Economy—And Why Only Austrians Can Fix It
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.
Deposit Insurance: Not an Assurance, But a Warning Label
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.
Book Review: 21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19
Greg Kaza reviews Ben Bernanke's 21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19. The book is a candid yet self-justifying defense of the Federal Reserve's monetary policy that refuses to acknowledge how stimulus has driven inflation.
Book Review: The Emergence of Arthur Laffer: The Foundations of Supply-Side Economics in Chicago and Washington, 1966–1976
Greg Kaza reviews Brian Domitrovic's The Emergence of Arthur Laffer. Alienated from academia during the stagflation era, Laffer was able to reach policymakers by presenting his ideas in a simple way, such as with his famous napkin Laffer curve.
