What Determines a Currency’s Rate of Exchange?
An important factor in setting the purchasing power of money is the supply of money.
Money and Banks
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The Digital Revolution Has Empowered Central Banks
All the hype cannot hide the fact that this digital revolution has not delivered the increase in prosperity of previous technological revolutions.
Why Are People Buying Bonds with Negative Yields?
Is this really negative time preference or a central bank induced crack-up bond boom?
Venezuela’s Default Disaster
In the end, the socialist promise of free money is very expensive for all. Let’s learn the lesson.
We’re Living in the Age of Capital Consumption
It remains to be seen how much longer this can continue. Once the stock of capital is depleted, the rude awakening will be unpleasant indeed.
Why Populism Isn’t Going Away
An ailing foundation of the economy provides fertile soil for dissatisfaction with the status quo.
High Prices and Zombie Housing
This odd mix of rising prices and three months of vacant inventory being ransacked by squatters is not how markets work, unless government is involved.
More Populism Might Have Produced a Better Fed Chair
Trump's selection of Jerome Powell highlights a flaw in Hayek's strategy to change public policy through "second hand dealers of ideas."
Two Reasons Why The Mexican Peso Appreciated in 2017
After a rough 2016, the Peso has made gains in 2017.
Can Gradual Interest-Rate Tightening Prevent a Bust?
Tightening the money supply "too fast" is not what causes economic busts. Creating money "out of thin air" is the real problem.
