Economists and their obtuse theories have been the overwhelming driver of reduced progress since 1971. Market-friendly economists (think Milton Friedman) are paradoxically the biggest offenders since they convinced President Nixon to trade dollar-price-stability for dollar chaos. But we’re getting ahead of ourselves… Continue reading on Forbes.
Slower Progress Since ’71? Floating Dollar Begs for Attention Read More »
Thoroughgoing Keynesian Ben Bernanke once quipped to Milton Friedman (1912-2006), “You’re right, we did it. We’re very sorry.” What did they or “we” do? According to Friedman, the Fed failed to increased the so-called “money supply” in the 1930s, thus the economic downturn… Continue reading on Forbes.
As Milton Friedman Did, Trump Mistakes the Power of the Fed Read More »
One of the most powerful drivers of Mexican economic growth is economic activity that takes place outside of Mexico. Specifically, economic activity within the United States. Stop and think about that. The previous truth exists as a thorough rejection of modern economic theory promoted by individuals within the Keynesian, monetarist, and Austrian schools. Mexico
Mexico’s Economy Rejects Keynes, Friedman, & Neo-Miseans Read More »
Inflation is all over the news and commentary today, particularly after a presidential election that was allegedly all about it. The problem remains that few who utter the word grasp its singular meaning. This includes Stanford professor Jennifer Burns, who not-so-ironically wrote a book about Milton Friedman. Friedman had his own problems with the
Inflation Is a Shrinkage of the Monetary Unit, Nothing Else Read More »
In a video that’s gone viral, the late Milton Friedman correctly asserts about inflation that “consumers don’t produce it,” and “producers don’t produce it.” Only for Friedman to go off track with the observation that “too much government spending” does produce inflation. Ignored by Friedman was that governments aren’t some kind of other capable of extracting spending power from Pluto,
As Economists Do Now, Milton Friedman Got Inflation Wrong Read More »
