Without established exchange-ratios between a currency and goods, a fiat-token cannot meaningfully serve as a unit of account because it has no referent. The only way a state could meaningfully ground such a fiat-token by political decree would be through comprehensive price controls.
Donald Trump may have declared, “I love inflation,” but for regular families, inflation is perhaps their worst enemy.
Because of Keynesian inflationary bias, economists, politicians, and journalists celebrated the huge financial moves that Ben Bernanke made in 2008 and beyond to deal with the financial meltdown and its aftermath. But Bernanke’s moves didn’t help the economy; they made things worse.
Libertarians would like to see the abolishment of the state altogether, but that is not likely in the near future. So, what political actions do libertarians do while the state still has power? Murray Rothbard had some thoughts on that.
Public employee unions have used their built-in advantages to damage this country’s political economy and work hardships on taxpayers.
The term that best describes the CEO of the "private" company Flock is "parasite" or "plutocrat" or "welfare queen" because his "business model" is simply finding ways to exploit the taxpayers.
The neoliberal establishment has done much to define our highly-interventionist, inflationary, and crony system as true free-market capitalism. They shouldn’t be surprised, therefore, that people are turning against it.
While mainstream economists add an “inflation premium” to interest rates, Murray Rothbard looked at the complete picture, knowing that the real rate of interest dealt with many factors within the structure of production.
Democratic socialists claim they can painlessly transform the US economy into one where no one has debt, housing and medical care is free, and the state meets everyone's needs. Their ideas are internally incoherent.
The future of Flock cameras: left the house during a pandemic lockdown? Expect a summons in the mail. Exceeding your "carbon footprint" by driving too much? Expect a ticket in the mail.
