Mainstream economics tells us that we need a growing money supply to keep an economy growing. But what if a growing money supply diminishes economic growth? The Austrians have something to tell us about money growth.
President-Elect Trump has been threatening tariffs against BRICS countries unless they abandon their plans to abandon the US dollar. While Trump may come off as being "tough" in his negotiations, he cannot bluster his way to a stronger dollar, thanks to reckless monetary policies.
No macroeconomics or monetary theory course is complete without introduction of the Equation of Exchange, or MV = PQ. However, this equation explains nothing, praxeologically speaking. Instead, it clouds our understanding of how money fits into our economy.
Modern Monetary Theory is a perfect example of, “Do as I say, not as you do,” rather than, “Do as I say, not as I do.” MMT rightly points out some hypocrisy, but wants to replace it with more hypocrisy.
Elon Musk‘s latest comments on money make the same errors as we saw with Milton Friedman and the Monetarists. If Musk really wants to understand money, he needs to read Murray Rothbard and Ludwig von Mises.
If President Trump is looking for a federal agency to abolish, he needs to look no further than the misnamed Consumer Financial Protection Bureau.
One of the fallacies pushed by monetary economists is that a growing economy needs a growing supply of money in order to prevent deflation, which they claim is as harmful as inflation. However, as Austrians point out, there is no “optimum” amount of money in the economy, since prices adjust.
President-elect Donald Trump has declared that he will raise tariffs his first day in office. Our economy, however, does not need government-created roadblocks to trade. Instead, we need free exchange and sound money.
The child-like obsession with buying stuff that American society is often criticized for around Christmas is a sought-after result of our government’s monetary policy.
Bob analyzes President Trump's recent remarks praising the revenue capacity of tariffs.
