Monetary Policy

Why Does the Fed Set Rates, Anyway?

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"Fed Boosts Benchmark Interest Rate" Every now and again we read a headline like that in the nation's newspapers. And just last week, the Federal Reserve raised a key interest rate a quarter point to prevent, so it says, the reappearance of inflation. Here's the reasoning: consumer demand is ... [click for more]

Monetary Central Planning and the State

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  Part 1: A Little Bit of Inflation Never Hurt Anyone. Right? Part 2: The Rationale of a Stable Price Level for Economic Stability Part 3: The Federal Reserve and Price-Level Stabilization in the 1920s Part 4: Benjamin Anderson and the False Goal of Price-Level Stabilization Part 5: The Austrian Economists on the Origin and Purchasing Power of Money Part 6: Ludwig von Mises and ... [click for more]

Freedom, Not Growth

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All politicians favor economic growth. They all promise to create jobs and "grow the economy." That is a vintage Republican issue, but the Democrats aren't dummies. Many of them have learned that the old appeal to class warfare and other quasi-Marxist themes are passé. They too have thrown themselves onto the growth bandwagon. Bill Clinton's so-called New Democrats can ... [click for more]

The IMF Doesn’t Deserve a Capital Boost

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For more than four decades, the U.S. has been the largest contributor to not only the IMF but also to all of the other multilateral-aid institutions, such as the World Bank. Indeed, Washington even provides the largest check to the African Development Bank, the Asian Development Bank, the European Bank of Reconstruction and Development, and ... [click for more]
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