Fed chairman Jerome Powell recently claimed they were "targeting" the "neutral" interest rate. The Fed cannot set or even know that rate, for it doesn't come from government authorities.
Money velocity's role in forcing up prices is misunderstood because today's monetary "authorities" fail to consider how new money is injected into the economy.
Former Daily Show host Jon Stewart asked why the Fed couldn’t have bailed out homeowners, or just “quantitative ease” away the Treasury’s debt. Bob breaks down why.
The "experts" solemnly tell us that deflation is even worse than inflation, and that deflation always will lead an economy into recession. The truth turns such "wisdom" upside down.
American essayist Albert Jay Nock celebrates the life and work of the great English sociologist and libertarian Herbert Spencer.
Antony Mueller explains that measuring the economy as a whole owes its popularity to the Cold War—that the origin of the GDP lies in the management of the war economies of the first half of the twentieth century.
Advocates of modern monetary theory promise a cornucopia of goods and jobs if only the government has the "courage" to print money at will. Sound economic analysis, however, exposes MMT as fraudulent.
Nik Bhatia presents a counterintuitive view of how money operates in our current banking system and takes a glimpse into our monetary future.
Ludwig von Mises was the great opponent of John Maynard Keynes. In this blistering article, appearing for the first time online, Mises unmasks Keynes as an advocate of the pseudoscience of monetary magic.
