Tom Duncan
at Sound Money Project
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“Your Money Back”
“Is Ron Paul’s suggestion that the Federal Reserve be eliminated a “fringe position,” as Josh Barro suggested in the June 21 issue of National Review (“Mend the Fed”)? It depends on what “fringe” means. If it means simply that a large majority disagrees, then Representative Paul’s position deserves that characterization. But if “fringe” is meant…
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“Honest Money through bearer shares, a proposal”
“Nobody understands money, least of all economists. Too sweeping a statement? Perhaps. But every analysis of the workings of monetary systems that I have ever read has been seriously in error at one or more crucial points. This is true not only of the supposedly impartial opuses of academic economics, but also of the writings…
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“An Old Battlefront Returns in War on Euro”
“In 1998, four renegade German professors tried to stop the introduction of the euro with a legal challenge in Germany’s highest court. Now, 12 years later, they are fighting against a German bailout for Greece — and this time around, people are listening to them. Wilhelm Hankel is sitting on the stage at a meeting…
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“Haste Makes Waste in Financial Regulatory Bill”
“The Congressional Conference Committee worked all night on Friday, June 25, finally quitting at 5:37 in the morning, so that President Obama could go to the G-20 Summit in Canada saying that Congress had finished a bill. Throughout the night comments were penciled in on the 2,315-page bill, so many in fact that the committee…
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“Britain’s Inflation Pain Poses Risk for Recovery”
“Committee members at the Bank of England and some economists have been puzzled by persistently high inflation in Britain, causing some concerns that the country’s recovery might stagnate. Unlike in the United States and in countries that share the euro, inflation in Britain never came close to zero in 2009. And while core inflation, which…
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“Liquidity Trap or Malinvested Resources?”
“Many people claim today that the U.S. economy is in a “liquidity trap” and only government can spend us out of this mess. Commentators from Paul Krugman to Martin Wolf of the Financial Times assert we are in a “Keynesian situation”; unless government spending rescues us, we are doomed to suffer decades of economic stagnation.…
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The Age of Turbulence
“Alan Greenspan shares the story of his life first simply with an eye toward doing justice to the extraordinary amount of history he has experienced and shaped. But his other goal is to draw readers along the same learning curve he followed, so they accrue a grasp of his own understanding of the underlying dynamics…
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“Fed’s Fisher sees slower U.S. Growth Ahead”
“In the second half of 2010, the U.S. will experience “slower economic growth than we’ve had in the first and second quarter,” Fisher told the Japanese business daily Nikkei. He estimated U.S. growth of 2%-3%, saying that the figure will likely come “closer to the low end of that range.” Fisher is not a voting…
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Lessons Unlearned
On Wednesday, I posted a link to F.A. Hayek’s “The Use of Knowledge in Society”. Like Leonard Read’s “I, Pencil”, Hayek’s knowledge paper explains why it is impossible for an economy to be centrally planned. I have mentioned this idea in earlier posts, but it is always worth mentioning again as the lessons learned never…
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“China’s Wen Says Economy Heading in Right Direction”
“China’s government said the world’s third-biggest economy is heading in the right direction and business people and economists expect “relatively fast” growth to continue. Premier Wen Jiabao said the nation will “further cement and develop the positive economic trend,” in a statement posted on the government’s website today. He pledged both continuity and flexibility in…
-
“Your Money Back”
“Is Ron Paul’s suggestion that the Federal Reserve be eliminated a “fringe position,” as Josh Barro suggested in the June 21 issue of National Review (“Mend the Fed”)? It depends on what “fringe” means. If it means simply that a large majority disagrees, then Representative Paul’s position deserves that characterization. But if “fringe” is meant…
-
“Honest Money through bearer shares, a proposal”
“Nobody understands money, least of all economists. Too sweeping a statement? Perhaps. But every analysis of the workings of monetary systems that I have ever read has been seriously in error at one or more crucial points. This is true not only of the supposedly impartial opuses of academic economics, but also of the writings…
-
“An Old Battlefront Returns in War on Euro”
“In 1998, four renegade German professors tried to stop the introduction of the euro with a legal challenge in Germany’s highest court. Now, 12 years later, they are fighting against a German bailout for Greece — and this time around, people are listening to them. Wilhelm Hankel is sitting on the stage at a meeting…
-
“Haste Makes Waste in Financial Regulatory Bill”
“The Congressional Conference Committee worked all night on Friday, June 25, finally quitting at 5:37 in the morning, so that President Obama could go to the G-20 Summit in Canada saying that Congress had finished a bill. Throughout the night comments were penciled in on the 2,315-page bill, so many in fact that the committee…
-
“Britain’s Inflation Pain Poses Risk for Recovery”
“Committee members at the Bank of England and some economists have been puzzled by persistently high inflation in Britain, causing some concerns that the country’s recovery might stagnate. Unlike in the United States and in countries that share the euro, inflation in Britain never came close to zero in 2009. And while core inflation, which…
-
“Liquidity Trap or Malinvested Resources?”
“Many people claim today that the U.S. economy is in a “liquidity trap” and only government can spend us out of this mess. Commentators from Paul Krugman to Martin Wolf of the Financial Times assert we are in a “Keynesian situation”; unless government spending rescues us, we are doomed to suffer decades of economic stagnation.…
-
The Age of Turbulence
“Alan Greenspan shares the story of his life first simply with an eye toward doing justice to the extraordinary amount of history he has experienced and shaped. But his other goal is to draw readers along the same learning curve he followed, so they accrue a grasp of his own understanding of the underlying dynamics…
-
“Fed’s Fisher sees slower U.S. Growth Ahead”
“In the second half of 2010, the U.S. will experience “slower economic growth than we’ve had in the first and second quarter,” Fisher told the Japanese business daily Nikkei. He estimated U.S. growth of 2%-3%, saying that the figure will likely come “closer to the low end of that range.” Fisher is not a voting…
-
Lessons Unlearned
On Wednesday, I posted a link to F.A. Hayek’s “The Use of Knowledge in Society”. Like Leonard Read’s “I, Pencil”, Hayek’s knowledge paper explains why it is impossible for an economy to be centrally planned. I have mentioned this idea in earlier posts, but it is always worth mentioning again as the lessons learned never…
-
“China’s Wen Says Economy Heading in Right Direction”
“China’s government said the world’s third-biggest economy is heading in the right direction and business people and economists expect “relatively fast” growth to continue. Premier Wen Jiabao said the nation will “further cement and develop the positive economic trend,” in a statement posted on the government’s website today. He pledged both continuity and flexibility in…
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