Economy News

from AIER

Established 1999

New England, USA

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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…

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    “Why Obamanomics Has Failed”

    “The administration’s stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible. But they want new stimulus measures—which is convincing evidence that they too recognize that…

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    “The Financial Crisis: A Timeline of Events and Policy Actions”

    “February 2007 February 27, 2007 | Freddie Mac Press Release The Federal Home Loan Mortgage Corporation (Freddie Mac) announces that it will no longer buy the most risky subprime mortgages and mortgage-related securities. April 2007 April 2, 2007 | SEC Filing New Century Financial Corporation, a leading subprime mortgage lender, files for Chapter 11 bankruptcy…

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    “Text of Dodd-Frank Wall Street Reform and Consumer Protection Act”

    “A summary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, released Saturday by the House Financial Services Committee. The legislation is expected to come before Congress next week for a final vote. 1. Dodd-Frank Wall Street Reform and Consumer Protection Act Create a Sound Economic Foundation to Grow Jobs, Protect Consumers, Rein in…

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    “Assessing Winners and Losers in Final Reform Bill”

    “Those looking for clear winners and losers after the conference committee struck a historic final agreement early Friday on regulatory reform legislation are bound to be frustrated. For every agency or industry participant that appeared to gain in the bill, there was a significant downside, while those who arguably emerged bruised and battered after the…

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    Reflections on Money

    On Thursday, June 17, I attended a lecture by Dr. Benjamin Powell of Suffolk University. He spoke at the Charles G. Koch Foundation, giving one of his excellent lectures on Somalia and its Stateless society. While the lecture itself is well worth hearing, one of the most fundamental statements made came almost as an aside.…