Sound Money Project
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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…
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“Chicago Fed’s Evans ‘wary’ of more asset purchases”
“”There are limits to what policy can do,” especially to improve the nation’s labor market, Evans said in a television interview on CNBC. Interest rates are near zero as the Federal Reserve’s stuck with an accommodative monetary policy, and it’s already purchased $1.75 trillion of housing-related assets to keep long-term market interest rates low.” Read…
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“Freshman GOP senator finds pivotal role on financial regulation”
“With the House of Representatives poised to vote on the latest version of financial regulation perhaps as soon as late Wednesday afternoon, the political spotlight has turned to a Republican senator who has been in office for less than five months and who forced what the Obama administration had hoped would be an immediate major…
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“Worst Still Ahead for Economic and Systemic-Solvency Crises”
“The U.S. economy continues in its longest and deepest downturn since the early 1930s, the first downleg of the Great Depression. This structural contraction already shows characteristics of a depression. Particularly protracted and deep, it will remain unresponsive to traditional economic stimuli. Given the historical and current extreme fiscal malfeasance of the U.S. government, and…
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Money: Its Origins, Development, Debasement and Prospects
“This book tells how money has conferred power and profits to those in positions to monopolize its production, abuse their power, and ultimately destroy the value of the nation’s economy. It tells why government has not and will not — because it can not — preserve the value of your money. It tells how we…
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“The Use of Knowledge in Society”
“The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. The…
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The United States: Deficit Champion
“Evidence that the current Administration is taking a different tack on economic policy was abundant at the recent Group of 20 (G-20) meetings in Toronto. The European governments, led by Germany, were arguing for deficit and debt reduction while the U.S. was resisting attempts to rein in spending. Although the U.S. went along with the…
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I, Pencil
“I, Pencil, simple though I appear to be, merit your wonder and awe, a claim I shall attempt to prove. In fact, if you can understand me—no, that’s too much to ask of anyone—if you can become aware of the miraculousness which I symbolize, you can help save the freedom mankind is so unhappily losing.…
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“A Fiscal Theory of Government’s Role in Money”
“As an alternative to market failure explanations, we draw on theory and historical evidence to argue that fiscal considerations explain the roles governments typically play in producing and regulating money. Public monopoly production of coins and banknotes, substitution of fiat for commodity standards, and restrictions on substitutes for government money all generate revenue and especially…
-
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…
-
“Chicago Fed’s Evans ‘wary’ of more asset purchases”
“”There are limits to what policy can do,” especially to improve the nation’s labor market, Evans said in a television interview on CNBC. Interest rates are near zero as the Federal Reserve’s stuck with an accommodative monetary policy, and it’s already purchased $1.75 trillion of housing-related assets to keep long-term market interest rates low.” Read…
-
“Freshman GOP senator finds pivotal role on financial regulation”
“With the House of Representatives poised to vote on the latest version of financial regulation perhaps as soon as late Wednesday afternoon, the political spotlight has turned to a Republican senator who has been in office for less than five months and who forced what the Obama administration had hoped would be an immediate major…
-
“Worst Still Ahead for Economic and Systemic-Solvency Crises”
“The U.S. economy continues in its longest and deepest downturn since the early 1930s, the first downleg of the Great Depression. This structural contraction already shows characteristics of a depression. Particularly protracted and deep, it will remain unresponsive to traditional economic stimuli. Given the historical and current extreme fiscal malfeasance of the U.S. government, and…
-
Money: Its Origins, Development, Debasement and Prospects
“This book tells how money has conferred power and profits to those in positions to monopolize its production, abuse their power, and ultimately destroy the value of the nation’s economy. It tells why government has not and will not — because it can not — preserve the value of your money. It tells how we…
-
“The Use of Knowledge in Society”
“The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. The…
-
The United States: Deficit Champion
“Evidence that the current Administration is taking a different tack on economic policy was abundant at the recent Group of 20 (G-20) meetings in Toronto. The European governments, led by Germany, were arguing for deficit and debt reduction while the U.S. was resisting attempts to rein in spending. Although the U.S. went along with the…
-
I, Pencil
“I, Pencil, simple though I appear to be, merit your wonder and awe, a claim I shall attempt to prove. In fact, if you can understand me—no, that’s too much to ask of anyone—if you can become aware of the miraculousness which I symbolize, you can help save the freedom mankind is so unhappily losing.…
-
“A Fiscal Theory of Government’s Role in Money”
“As an alternative to market failure explanations, we draw on theory and historical evidence to argue that fiscal considerations explain the roles governments typically play in producing and regulating money. Public monopoly production of coins and banknotes, substitution of fiat for commodity standards, and restrictions on substitutes for government money all generate revenue and especially…
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