Lawrence H. White
How Common Has Private Currency Been?
"Private banknotes can still be found in Scotland, Northern Ireland, Hong Kong, and Macau, where they have not yet been banned or taxed out of existence." ~ Lawrence H. White
Should the Fed Devalue Our Currency to Implement Negative Interest Rates?
"Where Agarwal and Kimball comment that the zero lower bound 'is not a law of nature, but a policy choice,' I suggest that the same is true about the need…
Thinking Straight about Bitcoin’s Social Costs and Benefits
"To view Bitcoin transactions as problematic, as a cost rather than a benefit, would be to view things like a state advocate rather than like a consumer advocate." ~ Lawrence…
The End of Bretton Woods, Jacques Rueff, and the “Monetary Sin of the West”
"As its contemporary critics understood, Bretton Woods was doomed to fail if it could not be fundamentally reformed. One of its chief contemporary critics was the French economist, Jacques Rueff."…
The German Miracle: Another Look
Earlier this summer George Soros and some leading Keynesian economists criticized what they regarded as Germany’s overly strict fiscal discipline. Yet Germany’s real output expanded at a robust 9% annual…