Money and Banking

Recorded at Mises University 2003.

John P.

Recorded at Mises University 2001.

Profit is total revenue minus total costs. Ours is not just a profit system, it is a profit and loss system. Losses are a sign that you wasted land, labor, or capital, yet those who make profits are criticized.

Boom, Bust, and the Future (26:36) January 18-19, 2002

Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.

(25:00)

Recorded at Mises University 2001.

Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.

(29:32)

Many believe that if governments would just issue greater quantities of money then all problems would be solved. In truth that would create unsurmountable problems by lowering the purchasing power of each money unit. Money is the one good that is not made better by increasing its supply.

There is a fly in the ointment of economic recovery: a dollar that just won’t seem to stop its fall. The impression that this trend portends something ominous is bolstered by the inverse relationship of the dollar’s value on international exchange and the price of gold. As the dollar has fallen in the last year, gold has risen.