Money and Banking

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We're Living in the Age of Capital Consumption

Money and BanksMoney and Banking

It remains to be seen how much longer this can continue. Once the stock of capital is depleted, the rude awakening will be unpleasant indeed.

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Cradles of Capitalism: the City-States of Greece and Italy

Swiss WatchWorld HistoryEntrepreneurshipMoney and Banking

Ancient and Renaissance city-states were some of the greatest incubators of economic and entrepreneurial activity.

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Why Populism Isn't Going Away

Money and BanksWorld HistoryMoney and Banking

An ailing foundation of the economy provides fertile soil for dissatisfaction with the status quo.

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High Prices and Zombie Housing

Bureaucracy and RegulationMoney and BanksMoney and Banking

Blog11/11/2017
This odd mix of rising prices and three months of vacant inventory being ransacked by squatters is not how markets work, unless government is involved.

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More Populism Might Have Produced a Better Fed Chair

Money and BanksMoney and BankingPolitical Theory

Blog11/06/2017
Trump's selection of Jerome Powell highlights a flaw in Hayek's strategy to change public policy through "second hand dealers of ideas."

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Can Gradual Interest-Rate Tightening Prevent a Bust?

Money and BanksMoney and Banking

Blog11/02/2017
Tightening the money supply "too fast" is not what causes economic busts. Creating money "out of thin air" is the real problem.

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Price Inflation Is Not the Worst Part of Easy Money Policy

Money and BanksMoney and Banking

Blog10/31/2017
The uneven distribution of new money causes bubbles, all the while also driving asset price inflation.

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In Fed We Trust

Money and BanksU.S. EconomyMoney and Banking

Blog10/26/2017
At this point, does anyone believe the Fed is willing to do anything that might really spook markets?

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Low Interest Rates Subsidize Wealthy Households

Money and BanksMoney and Banking

Blog10/21/2017
Wealthier households are often able to benefit more from low interest rates than can lower-income households.

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The Next Generation of Currency Wars: Private vs. State-backed Crypto

Big GovernmentMoney and BanksMoney and Banking

Blog10/20/2017
The revolutionary nature of cryptocurrency is at risk as governments around the world aim to co-opt it.

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