Chairman Greenspan: A Fiat Mind for a Fiat Age
Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.
Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.
Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.
Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.
The whole entrepreneurial class is in the position of a master builder whose task it is to erect a building out of a limited supply of building mat
It is likely that with the bailout of Greece we have already passed this point of no return.
A government which interferes with banking exposes itself to great danger of error, and such errors cost it popular confidence sooner than any others.
Men are always forced to choose between satisfaction in nearer and remoter periods of the future.
"The essence of 'immediate convertibility' is the difference between what Austrians call a claim transaction or warehouse receipt, like a demand deposit, and a credit transaction, like a time deposit."
Sound money even sounds heavier than unsound money. Gold and silver originated on the market and reigned as the preferred money because the metals were easily portable, homogeneous, highly divisible, highly durable, and naturally scarce. Paper has none of those attributes.