Stephen Apolito

Articles

What Is Seen—And What is NOT Seen: Bastiat’s Often-Ignored Wisdom

10/05/2023 Mises Wire Stephen Apolito

The French economist, statesman, and author Frédéric Bastiat wrote in 1850 that “there is only one difference between a bad economist and a good one: the bad economist confines himself to the visible...

How Does One Define “Libertarian”?

09/15/2023 Mises Wire Stephen Apolito

The Economist reported on August 14, 2023, that “Argentina could get its first libertarian president.” They added that Javier Milei, the winner of Argentina’s election primary was, imagine this, a...

Banks Create Money out of Thin Air. What Could Possibly Go Wrong?

06/22/2023 Mises Wire Stephen Apolito

You might rightfully wonder: How can a bank, like the neighborhood bank down the street, “create money out of thin air”? To answer that question, we must enter the magical kingdom of “fractional...

Media

What Is Seen—And What is NOT Seen: Bastiat’s Often-Ignored Wisdom

10/21/2023 Stephen Apolito

Bastiat reminded his readers that economic analysis involves not just what we see on the surface, but also the costs that are hidden from view.

Banks Create Money out of Thin Air. What Could Possibly Go Wrong?

07/13/2023 Stephen Apolito

How can a bank “create money out of thin air”? We must enter the magical kingdom of “fractional-reserve banking,” where deposits are turned into loans, loans are turned into money, and so on, to find out.

How Fast Should the Money Supply Grow?

02/18/2023 Stephen Apolito

As Murray Rothbard wrote, inflation is not an increase in prices. It is, instead, an increase in the supply of money in circulation. The distinction is important.

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