No Central Bank Wants to Stop Price Inflation
No interventionist government or central bank wants lower prices because inflation allows the government to increase its power while slowly breaching its monetary commitments.
No interventionist government or central bank wants lower prices because inflation allows the government to increase its power while slowly breaching its monetary commitments.
In August, the money supply grew at the fastest rate in 23 months.
One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some things more than others. While this seems to be a common-sense principle, it actually has important implications for
Long before there was Alan Greenspan to turn the Federal Reserve into Casino Central, there was John Law, France's minister of finance more than three centuries ago. Like Greenspan's infamous bubbles, Law's money-printing scheme made people rich—for a very short