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These days, the Fed and Chairman Jerome Powell are claiming the title of "inflation fighters." The more appropriate moniker should be "inflationists."
InflationMonetary PolicyMonetary Theory
As Murray Rothbard wrote, inflation is not an increase in prices. It is, instead, an increase in the supply of money in circulation. The distinction is important.
How do societies determine who their heroes are? We know that often those seen as heroes actually made a country worse off.
The FedMoney and BanksGold StandardMonetary Theory
Monetary authorities have come up with numerous clever ways of measuring money. However, they are unable even to define money, much less measure it.
Media and CultureProgressivism
Progressives like to claim that "America" has a "gun violence problem." However, the "gun violence problem" happens to exist in places where progressives dominate the government.
The FedInflationMonetary Policy
When consumer prices shot up after the massive monetary injections undertaken to counteract the job-killing Covid lockdowns, the political classes called it "price gouging." Indeed, when government inflates, we need all the price gouging we can get.
SocialismHistory of the Austrian School of Economics
William Röpke, who fled Nazi Germany in the 1930s, has made important contributions to Austrian economic analysis. Not surprisingly, he rejected collectivism as a way to organize an economy.
U.S. HistoryWar and Foreign PolicyWorld History
Americans often have defended the atomic bombings of Hiroshima and Nagasaki as regrettable but necessary for ending World War II. The actual record tells us a much different story.