With negative growth now dipping below –5 percent, money-supply contraction is approaching the biggest declines we've seen in the past thirty-five years.
Murray Rothbard was no fan of John Stuart Mill's philosophy and neither is Philip Kitcher. However, there is a huge divide in how Rothbard and Kitcher view Mill.
The fact the money supply is actually shrinking serves as just one more indicator that the so-called soft landing promised by the Federal Reserve is unlikely to be a reality.
