Monetary Theory

Politicians, bureaucrats, regulators, modern financial commentators, Nobel Prize–winning economists and central bankers have proven they lack any knowledge of what money is and what causes business cycles.

"Good government" seems to involve reckless spending by Washington, endless printing at the Fed, and bailout after bailout.

Let us send a delegation to Hades to resurrect Ludwig von Mises, Thomas Jefferson, John Locke, and Aristotle to replace the corrupt, debased politicians we now have.

"Real GDP has nothing to do with the real world."

Unfortunately, welfarist ideas are still careening down the highway with as much dangerous momentum as was the case when Röpke was still alive.

Popular rhetoric notwithstanding, government cannot be run like a business.

The observers today most reminiscent of our forefathers are the armies of tea partiers and bloggers, incensed that Main Street has gotten the shaft, first from the evils of hyperextended credit, and doubly now that modern solutions may prolong the madness.

The task of the theory of money consists merely in dealing with that component in the valuation of money which is conditioned by its function as a

Finally, the freedom of wage rates and prices to fall must be established through the repeal of pro-union and minimum-wage legislation, and more fundamentally, the education of the public concerning the errors of the Marxian exploitation theory and their replacement with actual knowledge of what determines wages and the general standard of living.

The efficient-markets hypothesis is actually a tautology, or a way of viewing the world.