Monetary Policy

If we choose to break the state monopoly of money and allow private digital currencies to compete, a myriad of different solutions will emerge to serve a myriad of different needs.

In this short essay recently found in the Mises Institute Archives, Mises goes over the basics of monetary theory and shows why the concept of velocity of circulation is useless for understanding changes in the purchasing power of the monetary unit.

The forces of anticapitalism have long latched on to whatever best suits them for pushing their agenda. Whatever the latest injustice may be—from a polluted environment to poverty to racism—the solution is always the end of capitalism.

As Japan has shown, ultralow interest rates can greatly affect a society that was once impressively focused on innovation and investment.

The average American has no memory of the gold standard or even the stagflation of the 1970s. The collective mindset is now the classic “kick the can down the road.”

Old coins vaccinated me against trusting politicians long before I grew my first scruffy beard. I began collecting coins when I was eight years old in 1965, the year President Lyndon Johnson began removing all the silver from American coins.

If we choose to break the state monopoly of money and allow private digital currencies to compete, a myriad of different solutions will emerge to serve a myriad of different needs.

We're now seeing an economic system where both supply and demand depend on government subsidies, handouts, and monetary schemes. This isn't a market economy.

As Japan has shown, ultralow interest rates can greatly affect a society that was once impressively focused on innovation and investment.

Brendan Brown reviews "Narrative Economics," which argues that "economic fluctuations are substantially driven by contagion of oversimplified and easily transmitted variants of economic narratives."