Popular commentators and politicians often express loud opinions about exchange rates and balance of payments. As Dr. Frank Shostak writes, the facts differ widely from popular perception.
The Ukrainian regime thinks it knows better than husbands and fathers when it comes to caring for their families. But no bureaucrat ought to be allowed to make such a decision.
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.
