When an economy suffers a recession, some factors of production, such as labor, become unemployed. Keynesians believe that expanding credit and fiat money will bring back full employment. That's not how an economy works.
One doesn’t need to search modern economic literature to take on the MMT crowd. Just read Bastiat.
Markets are preparing for the Federal Reserve to “pivot”; that is, change directions from raising interest rates to cutting them. What does it mean? It means that the Fed’s leadership has learned nothing in the past several years.
When an economy suffers a recession, some factors of production, such as labor, become unemployed. Keynesians believe that expanding credit and fiat money will bring back full employment. That's not how an economy works.
While the Secret Service is best known as the guys in sunglasses protecting the president of the United States, the SS actually was created to enforce the fiat money regime during the Lincoln administration.
A coin collection can tell a lot about this nation's monetary history, and especially what happened nearly 60 years ago after the government debased U.S. coinage. This history is not having a happy ending.
The Federal Reserve System might be rapidly debasing the US Dollar, but several states are making it easier to own gold. The "barbarous relic" is gaining economic status.
On the final Radio Rothbard of 2023, Ryan and Tho are joined by Patrick Newman.
A century ago, the German reichsmark went into freefall as the most famous hyperinflation in history exploded the German economy. The repercussions still are with us.
Bob comments on the key disputes from his recent debate with Dean Baker, underlying the differences between the Austrian and Keynesian frameworks.
