“Asset Bubbles and Their Consequences”
Lucio Saverio-Eastman
December 16, 2009
“Asset Bubbles and Their Consequences” Gerald P. O’Driscoll, Jr. Cato Institute Briefing Papers, May 17, 2008. Via the Cato Institute
Daily Economy
Daily economy news from the American Institute for Economic Research: data, stories, research, and articles touching on economics, politics, culture, education, policy, opinion, technology, markets, healthcare, regulation, trends, and much more.
“Subprime Monetary Policy”
Lucio Saverio-Eastman
December 16, 2009
“Supbrime Monetary Policy” Gerald P. O’Driscoll, Jr. The Freeman: Ideas on Liberty, November 2007 Via the Cato Institute
“Money and Monetary Policy for the Twenty-first Century”
Lucio Saverio-Eastman
December 9, 2009
This essay challenges the conventional wisdom about money and monetary policy. The role of money in fostering prosperity is a function of the quality, as well as the quantity, of money. Inflation always harms the performance of an economy. Deflations
Two Philosophies of Money
Lucio Saverio-Eastman
December 9, 2009
Two Philosophies of Money: The Conflict of Trust and Authority S. Herbert Frankel New York: St. Martin’s Press/Basil Blackwell, 1977.
The Rationale of Central Banking and the Free Banking Alternative
Tom Duncan
December 9, 2009
“In the present century centralised banking systems have come to be regarded as the usual concomitant, if not one of the conditions of the attainment of an advanced stage of economic development. The belief in the desirability of central bank
A History of American Currency
AIER
December 9, 2009
A History of American Currency William Graham Sumner New York: Henry Holt and Company, 1884. Via Liberty Fund
Gold: The Protector and Creator of Jobs
AIER
December 9, 2009
Gold: The Protector and Creator of Jobs For Sound Money Hugo Salinas Price
“On the Measurement of Zimbabwe’s Hyperinflation”
AIER
December 9, 2009
“On the Measurement of Zimbabwe’s Hyperinflation” Steve Hanke and Alex Kwok Cato Journal, Vol. 29, No. 2 (Spring-Summer, 2009).
Money, Bank Credit and Economic Cycles
AIER
December 9, 2009
“The economic analysis of juridical institutions has come to the fore in recent years and promises to become one of the most fruitful spheres of economics. Much of the work completed thus far has been strongly influenced by traditional neoclassical
What You Should Know About Inflation
AIER
December 9, 2009
What You Should Know About Inflation Henry Hazlitt Excerpt provided by the Ludwig von Mises Institute Complete text found here.
Theory of Money and Credit
AIER
December 9, 2009
Theory of Money and Credit Ludwig von Mises Copyright 1981 by Liberty Fund Inc. Via the Library of Economics and Liberty
Economic Myths and Irrelevancy
AIER
December 9, 2009
Economic Myths and Irrelevancy A Minority View by Walter Williams
The Ethics of Money Production
AIER
December 9, 2009
The Ethics of Money Production J. Guido Hulsmann Copyright 2008 by the Ludwig von Mises Institute
Fiat Money Inflation in France
AIER
December 9, 2009
Fiat Money Inflation in France: How it came, what brought it and how it ended Andrew Dickinson White New York: D. Appelton & Co., 1896. Via Liberty Fund
Where’s that Inflation
AIER
December 9, 2009
Inflation is the result of more dollars chasing the same number of (or fewer) goods. As the Nobel laureate Milton Friedman put it, in one of his main contributions to “monetarist” economics, inflation is always and everywhere a monetary phenomenon—that is, it’s caused by an expansion in the supply of money or credit. So why haven’t we seen inflation in 2009? Are we looking in the wrong places, or is it time to update monetarist theory?
“A Treatise on Money”
AIER
December 9, 2009
“A Treatise on Money” Juan de Mariana via The Acton Institute Journal of Markets & Morality, Vol. 5, No. 2, Fall 2002.
Prices Stable in May: Time to Cut Rates?
Alexander W. Salter
June 12, 2024
“M2, the most commonly cited measure of the money supply, is up 0.53 percent from a year ago. Since real income and population are growing faster than this, current M2 growth also suggests money is tight. But this is speculative.” ~Alexander W. Salter
AIER’s Everyday Price Index Unchanged in May 2024
Peter C. Earle
June 12, 2024
“The recent data, combined with the deceleration in core CPI in April, suggests the resumption of disinflation. But policymakers have indicated a need for several months of reduced price pressures before considering interest rate cuts.” ~Peter C. Earle
The Super Market
Donald J. Boudreaux
June 12, 2024
“Something that you can purchase with income you’ve earned with just a few minutes of your work-time is something that includes the work-effort of thousands or millions of strangers.” ~Donald J. Boudreaux
Protectionists Are Wrong: Free Trade is the Path to Prosperity
Vance Ginn
June 12, 2024
“Consumers and producers in America are better off with more domestic and international trade. As we don’t want to produce everything we consume daily, trading with others is the most efficient way to meet our needs.” ~Vance Ginn
Government Failure in One Lesson
Michael Munger
June 11, 2024
“Perhaps the easiest way to explain government failure in one lesson is to remember that there is no such thing as ‘the state.’ Instead, essential decisions about resource use will be made by political actors.” ~Michael Munger
AI Eases Its Own Labor-Market Transitions
Jack Nicastro
June 11, 2024
“Not long ago, search engines like Google were not understood by the masses, which forced people through experience to learn how to ‘Google’ webpages in the proper way. Submitting a search query is similarly a new language to learn, just like prompting a language model.” ~Samuel Crombie and Jack Nicastro
Trade Deficits: Accounting Masquerading as Economics
David Hebert
June 10, 2024
“Reducing ‘imports’ would not, in fact, increase GDP at all. At best, doing so would leave GDP unchanged since we would be adding less to consumption, investment, and government spending while subtracting equally less from imports.” ~David Hebert
Politicizing Monetary Policy Won’t Fix the Fed’s Failings
Nicolas Cachanosky
June 10, 2024
“Even if one thinks Trump is well-suited to make interest rate decisions (and there is little reason to think he is), it does not follow that Trump’s proposed solution would improve monetary policy.” ~Nicolás Cachanosky
The Dollar and its Domestic Enemies
Peter C. Earle
June 7, 2024
“The greatest threat to the soundness and utility of the US dollar comes not from shadowy figures in faraway lands, but from unremarkable apparatchiks carrying out the edicts of US officialdom.” ~Peter C. Earle
No, Biden’s Protectionism Isn’t “All About National Defense”
Donald J. Boudreaux
June 7, 2024
“Evidence from America’s past… lends no support to those who insist that, absent higher tariffs and subsidies, America will probably be unable to maintain the industrial might she needs to defend herself militarily.” ~Donald J. Boudreaux
Governments Shouldn’t Be In the Lending Business
George Leef
June 6, 2024
“When government officials approve and guarantee loans, lenders don’t have to worry about taking the loss. They can be very generous, pursuing what they regard as socially beneficial goals, and never worrying about the losses the taxpayers will have to bear.” ~ George Leef
Defense Manual for The War on Prices
Vance Ginn
June 6, 2024
“The book advocates for a substantial policy shift toward minimal governmental interference, allowing market mechanisms to function unimpeded. Sadly, we are moving in the opposite direction.” ~Vance Ginn
Confounding the Case for Oil and Gas Collusion
Alexander W. Salter
June 5, 2024
“Oil is produced and sold in a global market. Even true cartels like OPEC don’t have total control over prices. It comes down to supply and demand.” ~Alexander W. Salter
Our Kids Have No Economic Immune Systems
Michael Munger
June 5, 2024
“Kids are told they can do anything, that they are personally mighty and important. But they never have the experience of everyday effort and failure.” ~Michael Munger
Governments, Not Markets, Impel ESG
Daniel Sutter
June 4, 2024
“Prominent financial institutions have backpedaled on ESG, with net outflows from ESG funds. This divestment suggests that financial institutions may have overestimated market demand for ESG.” ~Daniel Sutter and Allen Mendenhall
The Sixties’ Toxic Legacy
Juliana Pilon
June 4, 2024
“Woke-friendly corporations, billionaires, foundations, and individuals with impressive foreign ties are demonstrating the effectiveness of funding campus radicals…echoing similar anti-Western, violent hate-marches throughout Europe and elsewhere.” ~Juliana Geran Pilon
Dollar Dominance, Dollar Dependence
Joakim Book
June 3, 2024
“Skeptics to the global monetary hegemon have long called for its demise — on causes of design or ideology, theory or empirics. And for decades, they have been proven wrong.” ~Joakim Book
Biden’s Latest Student-Loan Bailout
GianCarlo Canaparo
June 3, 2024
“What the Secretary purports to exercise in the proposed rule is no ‘discretionary’ authority appropriate to the executive branch; it is full-blown legislative authority, treading into the appropriations domain constitutionally reserved to Congress.” ~Jack Fitzhenry and GianCarlo Canaparo
