Volcker’s victory over runaway inflation was not permanent, because the temptation for central banks toward excessive printing, monetization of government deficits, and levying inflation taxes is permanent.
One doubts that the so-called Inflation Reduction Act will reduce inflation. However, it will wreak havoc on the US economy with its lethal mix of taxes, regulations, subsidies, and outright crony capitalism.
US central bankers are guilty of much, but it's not their fault that central bankers elsewhere are so often even worse and have made their currencies weak compared to the dollar.
Learning economics is fundamentally about gaining economic literacy so we can better understand the world we are part of. The real world, not the invented world we find in formalized models.
Because government is predatory, it may seem ironic then to use the political system as a means of protecting one's own property, family, and loved ones. But there are times when such a strategy makes sense.
Post-Keynesians believe that capitalism is internally unstable, leading to necessary intervention by the central bank. Austrians see that as backward reasoning, as policies by the central bank to create credit from nothing is the problem
Do these things to stand apart from your peers.
The long knives are out for Hans Hoppe again, but the accusations, this time in Mother Jones, miss the mark badly.
"War acknowledges no limit to the sacrifices which [the state] may demand of a nation, and governments must necessarily have an equal power of compelling those sacrifices."
At the urging of the United States, Germany and other European governments have levied sanctions against Russia. In reality, these governments have levied sanctions against themselves and their citizens.
