Monetary Policy

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Douglas French

Austrian business cycle theory points out that easy money leads to malinvestments. Once easy money disappears, the crash begins. Time to clean up malinvested assets.

Douglas French

Walter Bagehot, as Jim Grant writes, believed that bankers and central bankers should exhibit financial discipline. He would not recognize today's banking world.

Patrick Barron

A generation ago, the Berlin Wall fell and the USSR collapsed. Today, US monetary authorities are bringing down our own country.

George Ford Smith

Political money is unsound money, and while civilization cannot exist without sound money, it can do without predatory government.