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Do we need a distinct monetary constitution?
Having a monetary constitution is important. But do we need a distinct monetary constitution? Steven Horwitz says no. Agreeing with James Buchanan that a monetary constitution is desirable, Horwitz argues that a general constitution that protects private property rights, provides for contract enforcement, and maintains the rule of law is also a monetary constitution, even […]
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The Real Benefit of Low Gas Prices
Since September of 2014, the price of gasoline has fallen by more than a dollar per gallon as a result of the lower crude oil prices. For the average American consumer, this means their expenditures on gasoline have fallen by $22 per month. The total amount “saved” by Americans as a result of this decrease in gas prices is about $100 billion per quarter for the last several quarters. Where has this this money gone?
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