The US dollar continues to enjoy the confidence of markets, governments, and central banks. But faith in the US dollar is weakening, and many are trying to help the process along.
Central bankers like Alan Greenspan seem to think central bankers can be trusted to act with restraint. That's a risky plan, especially given that true and reliable constraints could be put on the money supply by adopting commodity money.
Since real savings enable the production of capital goods, obviously real savings are at the heart of the economic growth that raises people's living standards.
The British opponents of the Corn Laws rightly understood that tariffs and other restrictions on trade are violations of fundamental natural rights, and that they privilege certain entrenched interests at the expense of everyone else.
Real GDP does not measure the real strength of an economy, but reflects monetary turnover. Thus, the more money is pumped, the stronger the economy appears to be.
Price-control schemes have been failing for thousands of years. Now it looks like politicians in Washington are going to give price controls yet another try.
