The institutional setting in which human relationships become real in our lives is the market. The moral aesthetic of the market is lovely. It fosters love. It needs love.
Harwood could not remain silent and still call himself a man of honor. He established AIER in response, an institution dedicated to the fight for integrity, sound money, and free markets. The confrontations with Washington continued over the decades.
By making these lost Spooner treatises available again after more than a century in seclusion, it is my hope that they will both further our historical understanding of the time in which they were written and offer relevant insights to the evolution of economic ideas in the present day.
This remarkable book was published in 1932. E.C. Harwood’s ideas about inflation and the business cycle have relevance for our knowledge and for policy discussions today.