Saturday, 30 August 2014
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    Europe’s depressing dog days of summer

    August 27, 2014
    This is a guest post from Steve H. Hanke, a Professor of Applied Economics at the Johns Hopkins University in Baltimore, MD and a Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute in Washington, D.C. You can follow him on Twitter: @Steve_Hanke As we entered the dog days of summer, […]
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    A model for a free market monetary reform

    August 26, 2014
    Despite the approval and respect central banks receive around the world, it is questionable that even the best of them managed to outperform previous monetary institutions (see, for instance, here). It is not uncommon to see free market advocates to call for a return to the gold standard. The intention is no other than a […]
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    The Fed is driving the economy in the wrong direction

    August 25, 2014
    In an op-ed released today, Richard Ebeling, economics professor and former president of the Foundation for Economic Education, argues that the Federal Reserve’s misguided policies are driven by a fear of “price deflation,” but that their solutions often lead to disaster. According to Ebeling, the Federal Reserve, under the leadershp of Alan Greenspan, Ben Bernanke […]
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    Friedman vs. Hayek on currency competition

    August 22, 2014
    In a recent post, co-blogger Jerry Jordan refers to the “new monetary scheme” offered by Friedrich Hayek in the mid-1970s. Hayek outlined his proposed reform in Choice in Currency (1976) and Denationalisation of Money (1976). Milton Friedman and others were quick to point out its shortcomings. I’ve written a bit more on the exchange between […]
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    The IMF and a currency board for Ukraine

    August 19, 2014
    The Ukraine situation remains dire and it is important for the IMF to consider how best to help Ukraine avoid currency collapse. According to the Sound Money Project’s Dr. Judy Shelton, “the IMF should move quickly to consider the option of a currency board for Ukraine. It would not only resolve the dilemma of policy […]
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    Hayek on sensible monetary policy

    August 15, 2014
    Hayek on Sensible Monetary Policy This year marks the seventieth anniversary of the publication of “Road to Serfdom”by Frederick Hayek, as well as the fortieth anniversary of the award of the Nobel Prize in Economics to Hayek. Hayek’s enduring contributions to our understanding of the “Uses of Knowledge in Society”and characterization of markets as “mutualization […]

    New Book on Sound Money by Steve Forbes and Elizabeth Ames

    August 14, 2014
    In a recent piece in Forbes.com, contributor Mark Hendrickson writes “one of my favorite passages in “MONEY” was when the authors drew an ironic contrast between the fate of John Law, who had to flee France in disgrace after his ruinous paper money scheme blew up two centuries ago, and our present tendency to lionize […]
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    1920 Depression v. Great Depression

    August 11, 2014
    There is a reason why you’ve never heard of the depression that began in 1920. While the stats vary, the first year of the 1920 Depression was worse than the start of the Great Depression in many ways, and was arguably the most deflationary year on record. However, during the 1920 recession, the government did […]