Hayek and Bitcoin

The late economist FA Hayek had a great deal to say about private money, inflation, and indeed, about preserving individual freedoms against a tyrannical state. As we approach the 15th […]

FDIC: No Savior Then or Now

If you think the US banking system has problems now, ninety years ago this month a new President shuttered the entire banking system for a week. Knock on wood that […]

Understanding Inflationary Finance

Despite common assertions to the contrary, government spending does not necessarily cause inflation. Whether it does so depends on the willingness of the monetary authority to help finance the government […]