Daily Economy

A History of American Currency William Graham Sumner New York: Henry Holt and Company, 1884. Via Liberty Fund

“On the Measurement of Zimbabwe’s Hyperinflation” Steve Hanke and Alex Kwok Cato Journal, Vol. 29, No. 2 (Spring-Summer, 2009).

“The economic analysis of juridical institutions has come to the fore in recent years and promises to become one of the most fruitful spheres of economics. Much of the work completed thus far has been strongly influenced by traditional neoclassical

What You Should Know About Inflation Henry Hazlitt Excerpt provided by the Ludwig von Mises Institute Complete text found here.

Economic Myths and Irrelevancy A Minority View by Walter Williams

The Ethics of Money Production J. Guido Hulsmann Copyright 2008 by the Ludwig von Mises Institute

Fiat Money Inflation in France: How it came, what brought it and how it ended Andrew Dickinson White New York: D. Appelton & Co., 1896. Via Liberty Fund

Inflation is the result of more dollars chasing the same number of (or fewer) goods. As the Nobel laureate Milton Friedman put it, in one of his main contributions to “monetarist” economics, inflation is always and everywhere a monetary phenomenon—that is, it’s caused by an expansion in the supply of money or credit. So why haven’t we seen inflation in 2009? Are we looking in the wrong places, or is it time to update monetarist theory?

“A Treatise on Money” Juan de Mariana via The Acton Institute Journal of Markets & Morality, Vol. 5, No. 2, Fall 2002.

The Inflation Tax Greg Mankiw’s Blog Greg Mankiw

Put differently: the 1920-21 episode was, in fact, a severe, though not particularly long, recession. Allowing the money supply to fall isn’t painless. Allowing the money supply to fall in an environment of severe downward wage rigidity is VERY “not painless.” The 1920-21 episode doesn’t demonstrate that deflation is harmless. It DOES demonstrate that if you have deflation, it will be less bad if you have nominal wages that are flexible downward. That recession is the best example of why Hoover’s wage policies were such a mistake.

What Has Government Done to Our Money? Murray M. Rothbard Copyright 1980 by The Ludwig von Mises Institute

In this article we argue that during the period from 1870 to 1914 adherence to the gold standard was a signal of financial rectitude, a “good housekeeping seal of approval,” that facilitated access by peripheral countries to capital from the

“The U.S. cannot afford to have another lost decade. Or to see the dreams of another generation of Americans who had been told to take responsibility for their financial health by investing in the stock market dashed by failed monetary