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Money and Banks
Does free banking encourage fraud by tolerating fractional reserves? Here's a summary of the debate.
Big GovernmentHealthPolitical Theory
It is time to get back to normal life, and that starts with visible human faces.
Gary Galles has in this outstanding book shown how to apply basic economic principles: he can convey free market principles in a simple and memorable way; and he also has a detailed knowledge of the policies he analyzes.
The velocity of money does not have a life of its own. It is not an independent variable and it cannot cause anything, let alone offset the effect of increases in money supply on the prices of goods.
From the darkened cinema to the football field to the airport screening line, the US government inflated the actual threat of terrorism and the necessity of an aggressive military response.
Much talk about the central bank's policy centers on whether the target interest rate is above or below the "natural rate." Unfortunately, we will never know what the natural rate is.
Value and Exchange
In a developed economy, the satisfaction of desires can be obtained not only by goods in use, but also by goods in exchange.
Republicans put a free market happy face on the latest environmentalist policy prescriptions in DC, but that does not change the fact that centrally planned climate policy is terrible economics.