Governments can pay their bills in three ways: taxes, debt, and inflation. The public usually recognizes the first two, for they are difficult to hide. But the third tends to go unnoticed by the...
John Paul Koning
John Paul Koning works in the financial industry. He also designs wall charts, available at Financial Graph & Art.
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While Carl Menger and Léon Walras simultaneously discovered the principle of marginal utility, their ideas about the nature of market prices are very different.
This article takes up where the first part left off: the dismantling of the London Gold Pool in March 1968. The US authority’s fight to keep gold pegged at $35 had by no means ended with the Pool’s...
