Money and Banks

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.

Rothbard: "At the outset of every step forward on the road to a more plentiful existence is saving….Without saving and capital accumulation there could not be any striving toward nonmaterial ends."

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

There is no better work to explain the broader implications of central banking which go almost totally unremarked in the financial press than The Ethics of Money Production.

Rothbard: "At the outset of every step forward on the road to a more plentiful existence is saving….Without saving and capital accumulation there could not be any striving toward nonmaterial ends."

For people who remain mystified as to how populists like Donald Trump get elected, they need not look much further than this.

Corporate cost cutting sets the stage for future gains in profitability and productivity, and there is no resulting "paradox of thrift" requiring easy money policies to "fix" the problem.