Instead of decrying the penny, economists should recognize its potential to combat government inflation and advocate a return to an even harder currency. Coins may be expensive for the government to make, but this ensures that our money retains some value, regardless of what the government does. Do we really want free money?
No subject is so much discussed today — or so little understood — as inflation.
Larry Elliott in the Guardian writes th
We define a bubble as the outcome of activities that have emerged on the back of loose monetary policy of the central bank.
Taking into account not just rapid domestic expansion, but also the sharp fall in the greenback, broad, dollar-denominated money supply went up on
Professor Bernanke is giving his testimony to Congress. Blah...Blah...Blah.
The Federal Reserve System virtually controls the nation's monetary system, yet it is accountable to no one.
The new banking policy in Second Life has strong parallels to the adoption of 19th-century banking regulations in the real world.
Policies such as the ban on interest-paying banks incentivize further reckless behavior by users who have made foolish decisions, and they frustrate and hinder the entrepreneurs who are producing the goods that attract people to Second Life.
