A Monetary Policy Primer, Part 1: Money

What, exactly, is “monetary policy” about? Why is there such a thing at all? What should we want to accomplish by it — and what should we not try to accomplish?

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Muhammad Ali and the Military Draft

“If the state may force a man to risk death or hideous maiming and crippling, in a war declared at the state’s discretion, for a cause he may neither approve of nor even understand, if his consent is not required to send him into unspeakable martyrdom—then, in principle, all rights are negated in that state, and its government is not man’s protector any longer. What else is there left to protect?”

How the FED Causes Booms and Busts

The result of the Federal Reserve’s increase in the money supply, which pushes interest rates below that market-balancing point, is an emerging price inflation and an initial investment boom, both of which are unsustainable in the long run.

The Hubris of the Political Power-Lusting “Leaders”

The friends of freedom must remind their fellow citizens that the only fundamental political question in any election is whether or not those running for political office unswervingly declare their allegiance to the philosophy of individual rights to life, liberty and property and its accompanying social system of free market capitalism?

Fear of Aging

Q: I’m terribly afraid of aging. I’m only in my forties, but I think about it a lot. Is there anything you can do to help? A: You’re aging — we’re all aging — from the minute we’re born. Ruminating about something over which...

Profit motive and private property—keys to preventing forest fire damage

While it is too late to prevent the damage in Fort McMurray now, the solution to minimizing losses from fires in the future is to sell the government forests and let private owners manage them for long-term profitability—by protecting their own property and respecting the property rights of others (through good property management to reduce the fire hazard).

Lying in Business

In my years of teaching ethics to business students, I must have heard it all when it comes to justifying deception and lying in business.