“In the midst of the current financial crisis the economics profession has seen a monumental resurrection of Keynesian ideas. The debate, which Keynes started back in the 1930s, is being picked up again, not where it left off, but in exactly the same p …
READ MORE“The world’s currencies are gyrating, but the strains are being felt beyond financial capitals and corporate boardrooms. Millions of families in developing countries rely on relatives sending dollars, euros and other weakened currencies from abroad to …
READ MORE“The Foundation for Economic Education’s goal from the very beginning was to promote, what Leonard E. Read called, the freedom philosophy. Understanding the principles of economics is a crucial step to understanding why freedom works. The tools of econ …
READ MORE“Economist Judy Shelton, author of Money Meltdown and The Coming Soviet Crash, recently wrote A Guide to Sound Money as part of her work co-directing the Sound Money Project for the Atlas Economic Research Foundation (www.atlasnetwork.org). The guide w …
READ MORE“China and India blame the U.S. Federal Reserve for their difficulties in maintaining stable prices. The International Monetary Fund and the United Nations, always responsive to the complaints of developing nations, are suggesting alternatives to the d …
READ MORE“About seventy percent of American households own their own homes, and for many their homes represent the majority of their net worth. As evident by the cascading mortgage market meltdown and widespread defaults and financial bankruptcies, housing poli …
READ MORE“In asking whether the recent financial crisis could have been avoided, the crucial fact is that crises of various flavors have occurred for centuries in countries around the world. Thus, any explanation based mainly on recent factors — subprime lendin …
READ MORE“Budget plans seldom have happy as a starting point. Spending proposed by the White House Monday is certainly no exception. Facing a Republican majority House, the budget sets up a dancing-as-fast-as-we-can scenario, like a Mexican hat dance, in which …
READ MORE“The Obama Treasury Department‘s new housing reform report comes to the wise conclusion that Fannie Mae and Freddie Mac must be eliminated. The Tea Party and Republicans should be saying, “We can work with this.” The fully privatized mortgage finance s …
READ MORE“Freshman Wisconsin senator Ron Johnson, one of the most promising of the new wave of Tea Party-allied Republican legislators, was chosen to give the Republican radio address, delivered just after President Obama’s weekly radio offering, on Saturday, J …
READ MOREIn The Theory of Free Banking (1988), George Selgin offers a monetary reform proposal to go from the actual monetary system based on a monopolistic control of money to a competitive banking system (pp. 164-172). There are different reasons (economic, i …
READ MORE“For 98 years the federal government has been attempting to prevent asset bubbles, recessions, and spasms of unemployment. In 1913, Woodrow Wilson created the Federal Reserve System, telling the country that this new institution would be “a safeguard a …
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