Externalities and the State
Failure to enforce property rights is far from the only way in which government gives rise to externalities. Indeed, most actions of the government actually cause externalities.
Monetary Policy
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Bank of England Economist: Britons Need to Accept That They’re Poorer
Although the Bank of England is largely responsible for inflation in the UK, its leaders blame British consumers and workers for the price increases.
Paying the Piper: Time to Clean Up the Latest Malinvestments
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.
Is There an Optimum Growth Rate of Money?
Monetarists believe there is an optimum growth rate of money. However, a fiat money system itself is unstable, so there is no optimum growth rate.
The Failure of the Federal Reserve: The Covid Boom and Unnecessary Intervention
After years of inflationary intervention, the Federal Reserve has no more rabbits to pull out of the hat.
Will a New BRICS Currency Change Anything? Maybe
As the US government debases the dollar, other nations take notice and possibilities increase that another currency based on sound principles might emerge.
From Discipline to No Discipline: The Sorry Evolution of Modern Banking
Walter Bagehot, as Jim Grant writes, believed that bankers and central bankers should exhibit financial discipline. He would not recognize today's banking world.
Paying the Piper: Time to Clean Up the Latest Malinvestments
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.
Role Reversal: The Collapse of the Dollar-Enforced Empire
A generation ago, the Berlin Wall fell and the USSR collapsed. Today, US monetary authorities are bringing down our own country.
The Failure of the Federal Reserve: The Covid Boom and Unnecessary Intervention
After years of inflationary intervention, the Federal Reserve has no more rabbits to pull out of the hat.
