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Monetary TheoryMoney and BankingValue and Exchange
Contrary to the popular way of thinking, setting in motion a consumption unbacked by production through monetary pumping will only stifle economic growth.
Booms and BustsMoney and BanksBusiness Cycles
Even if the central bank policymakers could implement policies without error, Milton Friedman’s and Robert Lucas’s monetary schemes could not secure stable economic growth.
Money and Banks
Economic growth comes from the accumulation of real wealth — which is necessary to produce more goods and services.
Money and BanksMoney and Banking
Neither loose monetary policy, nor big-spending fiscal policy can grow an economy. All that these policies can do is to redistribute a given pool of real savings from wealth generators toward non-wealth generating activities.
The introduction of money does not alter the fact that individuals still have to produce something useful in order to secure some other useful goods for themselves.
U.S. HistoryMoney and BankingMoney Supply
The Fed’s monetary policy, except for very brief periods in 1929 and 1936–1937, was consistently and unremittingly inflationist in the 1920s and 1930s.
Financial MarketsMoney and BanksMoney and Banking
Contrary to popular thinking, the velocity of money does not have a life of its own.
The prohibitionist impulse is widespread among politicians, whether it involves alcohol, drugs, sugar or meat.