After very quickly becoming an advanced economy, South Korea is experiencing declining growth and labor productivity. The culprit, as usual, is government intervention in the market to favor certain interests.
Why do we have money in the first place? Where does it come from, and what determines its form? What qualities make for a good money? What role do banks play—is it something other than what money itself does for us?
Terrence Malick's new film about conscientious objector Franz Jägerstätter is a subtle film. But perhaps too much so, and we need to look deeper to understand why this one man so vehemently resisted the Nazi state at the cost of his own life.
Shortcomings in the government's handling of monetary matters, of credit expansion, and the disastrous consequences of lowering the rate of interest gave birth to the ideas which finally generated the slogan "stabilization."