Monetary Policy

Why Does the Fed Set Rates, Anyway?

"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

  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

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]
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