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Scott Burns

The End of Hyperinflation

Despite recent events in Venezuela, hyperinflation has become increasingly rare.

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J.P. Koning

Competitive Full-Reserve Banking

Historically, fractional-reserve banks have always won out against their full-reserve cousins. But times have changed.

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James L. Caton

Can the Fed Manage the Excess?

The Federal Reserve has created so much base money that it has found itself between the devil and the deep sea: choosing whether to let the money circulate in the economy, thereby pushing up prices, or to remove this money quickly, thereby potentially creating a deflationary spiral.

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Max Gulker

AIER Helps Bring Economics to the Classroom

Students don’t learn enough economics, neither as a subject nor as a way of thinking across the curriculum. AIER was proud to co-sponsor and partner on an event last week with two organizations working to change that fact: the Foundation for Teaching Economics (FTE), and the Economic Education Center at Lindenwood University’s School of Education in St. Charles, Missouri.

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Brian C. Albrecht

Money Is a Social Contract: A Normative View

For both social contract theory and monetary theory, theorists are considering something that never happened in the past and that they have no reason to believe will happen in the future. No such considerations are useful.

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Peter Boettke

Lionel Robbins, Prophet of International Liberalism

“We should not claim for liberalism,” Robbins insisted, “that the world it could produce would be perfect.… But we may claim that, with all its deficiencies, it would still provide a safeguard for happiness and spontaneity more efficient than any other which has yet been suggested.” 

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Donald J. Boudreaux

Speak Not of Legislation as Law

Particular laws can be undesirable, and legislation often serves useful purposes. Nevertheless, legislation is not law. So the common habit of using “law” and “legislation” as synonyms sows much confusion.

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