If the small sample size of monetary history is any guide, the combination of asset market crashes and high goods inflation empowers sound money forces in the political arena. At the moment, neither of those factors are in play.
What is a national-security state? It is a totalitarian-like governmental structure that consists of an enormous military-intelligence establishment with extraordinary powers, such as indefinite detention, torture, secret surveillance, and even assassination of both citizens and foreigners.
While the legislation introduced in the US Congress remains fiction under a Republican executive and senate, the Brussels initiative will become law unless there is considerable opposition from EU member states.
The Marginal Revolutionaries: How Austrian Economists Fought the War of Ideas is a lively history of the astonishing influence prewar Viennese intellectuals had on the greater world, and continue to have in areas far beyond economics.
Economist Robert Murphy lays out the purpose and structure of his upcoming book Understanding Money Mechanics, a guide to the Federal Reserve System that is a must-read for laymen.
The US's enthusiasm for sanctions means Europe is learning the price of doing business with the United States and with the dollar. They're now developing new ways to work around the the US-dominated financial system.
After lying dormant for several years in the aftermath of the Great Recession, the subprime market has returned with a vengeance. Subprime has become prevalent in every facet of the credit industry, and we should be terrified.
Petrodollars and petrodollar recycling are at the heart of what keeps the US debt and money-printing mechanism going. The geopolitical stakes are very high.
If Chileans are concerned about inequality, real solutions are likely to be found in combating the central bank and other anti-market institutions.
Contrary to the popular way of thinking, setting in motion a consumption unbacked by production through monetary pumping will only stifle economic growth.
