Fueled by unprecedented quantitative easing, central bank asset purchases, and various stimulus packages, the money supply growth rate ballooned in April to an all-time high.
Prices and purchasing power are determined by how individual consumers value goods and services. The "velocity of money" won't help us understand prices or the money supply.
The current bust has been made worse by previous periods of easy money, which destroyed the wealth creation that is critical to sustaining a growing economy.
Thomas Kuhn influenced Rothbard by demolishing the notion that the history of science is one of continual progress. The truth is that once a paradigm becomes established, its basic tenets are not questioned at all until major problems crop up.
During March 2020, year-over-year (YOY) growth in the money supply was at 11.37 percent. We're now seeing a trend similar to what we saw during late 2008 and early 2009.
Ludwig von Mises and Ayn Rand held very different views about the origins of Nazism, and in this article I am going to describe these differences. Both involve German philosophical ideas.
