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Central BanksEconomic PolicyThe FedInflation
Central bankers follow inflation "target" in their pursuit of "price stability." Not surprisingly, they usually miss their targets -- quite badly -- and we now are living one of those moments.
Economic PolicyFree MarketsLiberalism
Critics of capitalism claim that it is responsible for creating inequality in society. Yet the precapitalist societies enforced inequality in a rigid social structure.
The world's central banks ran up their risk, all together, and now the big risks they assumed are turning into losses all around the central bank club.
Cronyism and CorporatismEconomic PolicyEducation
Politicians calling for student loan forgiveness or free college tuition have failed to understand the larger consequences of unlimited student lending. Henry Hazlitt would have understood.
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Big GovernmentCentral BanksU.S. EconomyBusiness CyclesPolitical Theory
A serious political discussion at the federal level would center on structural problems of war and peace, debt and the dollar, and entitlements. But America in 2022 is a deeply unserious country.
Booms and BustsInflationBusiness CyclesGold Standard
While an increase in the supply of gold money would lead to higher consumer prices, such increases in the gold supply do not lead to boom-bust cycles.
Free MarketsSocialismMonopoly and Competition
Among Mises's contributions was his doctrine of consumer sovereignty in a free market.