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“After three decades of railing against America’s monetary policies, Congress’ most famous gold bug and anti-Fed crusader, Rep. Ron Paul (R-Texas), doesn’t have much to show for his efforts on the national level. But Paul’s message finally seems to be …
READ MOREPART I: Imagine an island where the local currency is a type of beautiful shell. Everyone on the island has some, either collected over time or traded for through an exchange of goods or services for shells. The shells can either be worn for adornment …
READ MORE“One would hope that the supposed “great minds” at the Fed and in academic economics would better understand inflation and its destructiveness, but that is not to be. First and most important, the lack of inflation is not the enemy of the economy. The …
READ MOREIn conventional microeconomics the monopoly is associated with inefficiency. Under perfect competition there are no deadweight losses. This means that resources are efficiently allocated. The monopoly, on the other hand, provokes inefficient production …
READ MORE“The question of how humans come to trust anonymous others has been addressed by both economists and evolutionary psychologists recently. However, the idea of monetary calculation, as articulated by Ludwig von Mises and other Austrian school economists …
READ MORE“When the Federal Reserve began telegraphing late last summer that it would launch a new round of monetary stimulus to help the U.S. economy, Wall Street assumed that the dollar would be the sacrificial lamb. More money in the financial system, after a …
READ MORE“Economic theory has an amazing ability to explain the world around us. It explains human behavior of all sorts, from the mundane to the deadly serious, from the trivial day-to-day of our lives to the most important policy issues. Yes, the discipline o …
READ MORELast week, I wrote something here that might seem a little strange for a “sound money” blog. I stated that fiat paper money could be the optimal form of money in an ideal world. Sure, we “sound money” economists see much virtue in a commodity money lik …
READ MOREOn Tuesday, March 29, Northwood University will be hosting “Should America Adopt the Gold Standard?” , a debate between Dr. Richard Ebeling of Northwood and Dr. Robert Barsky of the University of Michigan. Should the United States return to a gold stan …
READ MORELarry White gives a lecture on the benefits of Free Banking and the Gold Standard at the Cato Monetary Conference in November, 2010. Watch it here. Larry White on Free Banking and Gold Sheldon Richman Anything Peaceful, March 8, 2011. Via the Foundat …
READ MOREExtreme events sometimes cause big shifts in the economic point of view of the market process. The recent financial crisis brought back into scene Keynesian economics as a way to cope with the depression and make the economy recover. The recent tragic …
READ MORE“The sharp rise in oil prices is a major concern for economists. In a recent survey by CNNMoney, economists identified the oil spike as the biggest headwind facing the nation’s economic recovery. And some fear that unlike previous scares, higher prices …
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