Acton Institute Powerblog Archives

Post Tagged 'fiat money'

Video: Robert Murphy on The Importance of Sound Money

On Tuesday, Acton welcomed economist and author Robert P. Murphy to the Acton Building’s Mark Murray Auditorium as part of the 2014 Acton Lecture Series. He spoke on the topic of The Importance of Sound Money, providing a solid lesson in the history of currency in the United States and other major countries, and an overview of the problems that have resulted from our government’s abandonment of sound monetary policy. Continue Reading...

Bitcoin as ‘Super Fiat’ Currency

Joe has done us all a real service in putting together his three part (1, 2, 3) primer on Bitcoin (full PDF here). I am curious, though, what the justification is for referring to Bitcoin as a “commodity” currency. Continue Reading...

Samuel Gregg: Fiat Money and Public Debt

On Public Discourse, Acton Research Director Samuel Gregg looks at fiat money and how today it “represents the end of a long process of development whereby governments have used their power of legal tender to use money to pursue various policy goals.” This brief excursion into economic history hints at some of the deeper economic—not to mention moral—problems associated with fiat money. Continue Reading...

Gregg on Gold: The Moral Case

The extent and persistence of the global economic and financial crisis has caused many people to start asking if there is any alternative to the current monetary system of fiat money overseen by central banks which enjoy varying — and apparently diminishing — degrees of independence from politicians who seem unable to resist meddling with monetary policy in pursuit of short-term goals (such as their reelection). Continue Reading...

Money, Deficits, and the Devil: A Cautionary Tale

Acton Research Director Samuel Gregg contributed the article here, one of two Acton commentaries published today. Sign up for the free, weekly email newsletter Acton News & Commentary to receive new essays, book announcements and the latest news about Acton events. Continue Reading...