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Stagflation in the Disco Era

The 1970s brought low levels of economic growth. It is appropriate to look back upon those days today. In this issue of the Harwood Economic Review we are again looking back to the ‘70s, as the worrisome prospects of increasing costs of living amid slowing economic growth are emerging. And with those, the ugliest word in economics has resurfaced: stagflation.


Nicolas Cachanosky

Cryptocurrencies and the National Bank Act: Learning the Wrong Lessons from History

“Perhaps the cryptocurrency market would benefit from regulatory oversight. But the regulators are certainly wrong to base their case on the historical experience of the US. The lesson they should learn from history is that regulation can be detrimental.” ~ Nicolás Cachanosky & William J. Luther


Clifford Thies

Not Worth a Continental

“In hindsight, it is difficult to fathom how the patriots erred so grievously in issuing paper money during the Revolution. At least a certain amount of them were aware that only a limited amount of paper money could be issued before engendering an inflationary spiral.” ~ Clifford F. Thies


J.P. Koning

Was Satoshi Nakamoto Right about Bitcoin Payments?

“Satoshi was correct that card systems work ‘well enough for most transactions’ and thus bitcoin had but a bit part to play in payments. But he was wrong about bitcoin being useful with retailers for small payments and non-reversibile retail payments.” ~ J.P. Koning


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