The Menace of Fiscal Inflation

Today, inflation has reached a 40-year high, in response to fiscal profligacy and accommodative monetary policy.  Direct cash payments to individuals and

Monetary Progress

Paul Krugman and the “Ersatz” Theory of Private Currencies

Although I've devoted many essays here to exploding myths about historical private currencies, there's one I've yet to directly challenge. That's the

The New Deal and Recovery, Part 18: The Recovery So Far