A traditional argument for unbacked fiat money was based on the idea it was less-costly to produce fiat money than gold or silver. This cost savings could then enrich society overall. But recent data suggests this isn't true.
Cronyism and CorporatismFinancial MarketsMoney and Banks
Not surprisingly, policies adopted by central bankers often serve the interests of the central banks themselves.
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Austrian Economics Overview
War and Foreign Policy
Shawn Ritenour and Tom Woods discuss The Mises Reader, now available from The Mises Institute.