Reinstating the mark, a peaceful act by a sovereign country, would create a cascade of monetary reform throughout the world. Europe's trading partners would find the cost of necessary imports rising in terms of their local currencies, forcing them to adopt fiscal and monetary responsibility.
An unheralded work on the Austrian business cycle that rivals the work of the greats is Jesús Huerta de Soto’s Money, Bank Credit, and Economic Cycles, which outlines a multistate process of boom and bust.
From the dollar to bitcoin to Facebook's Diem, private monies and quasi monies are making the monetary landscape a lot more complicated.
Americans have benefited mightily by holding and trading with the world’s reserve currency, though most people haven’t given it a thought. No one remembers when the pound sterling held this distinction a hundred years ago.
From the dollar to bitcoin to Facebook's Diem, private monies and quasi monies are making the monetary landscape a lot more complicated.
A store of value is not necessarily a medium of exchange, and in our current fiat money system, gold is not money. But it has most of the desirable properties of money, and there is much to learn form the process of how it became money in the past.
As a result of past reckless fiscal and monetary policies the pool of real wealth could be declining. If so, stagflation will result.
A store of value is not necessarily a medium of exchange, and in our current fiat money system, gold is not money. But it has most of the desirable properties of money, and there is much to learn form the process of how it became money in the past.
As a result of past reckless fiscal and monetary policies the pool of real wealth could be declining. If so, stagflation will result.
Mises's firm anti-inflation view—and his recommendation for a return to sound money (that is, free market money)—rested on his awareness of the disastrous consequences of an inflationary policy.
