Monetarists have long believed that the Fed should pursue policies of low inflation in order to counter the effects of lower prices through enhanced productivity. Thus, they reason, overall prices will remain stable. Such policies actually promote economic instability.
Monetarists have long believed that the Fed should pursue policies of low inflation in order to counter the effects of lower prices through enhanced productivity. Thus, they reason, overall prices will remain stable. Such policies actually promote economic instability.
Before Bitcoin, there was Hayek. In the 1970s, he warned that state-controlled money leads to inflation, instability, and political plunder. His fix? Competing currencies.
Fiat is failing. Dr. Mark Thornton explains why sound money is the future.
Monetarists and rational expectations economists believe that if monetary policy is transparent, then increases in the money supply will not have negative effects. The actual results say otherwise, as introducing new money into the economy leads to economic instability.
The language of “de-dollarization” conceals an authoritarian ambition: to replace one fiat empire with another.
If wealth could be created out of scraps of paper or their digital equivalent, world poverty would be a thing of the past. Remember, the commodity money takes care of itself—and us too, if we let it.
MMT and chartalism claims that money is a creature of the state and is valued because of state action. The fact that tobacco acted as colonial money independently of the state demonstrates this to be false.
MMT uses chartalism and a few dubious examples to appeal to history to establish the theory‘s authority and validity, only to discard this element as irrelevant and unnecessary.
MMT uses chartalism and a few dubious examples to appeal to history to establish the theory‘s authority and validity, only to discard this element as irrelevant and unnecessary.
