Federal Reserve

May 25, 2023

End the Fed’s Cat-and-Mouse Game to Tame Inflation

Nine times. If you’ve seen the classic ’80s film Ferris Bueller’s Day Off, you recognize and can hear the principal’s voice. Ferris, an overconfident and overzealous teenager, has managed to ditch school with his two pals—again. Continue Reading...

July 23, 2021

America suffers from economic nationalism

One of the biggest political upheavals in America over recent years has been a resurgence in economic nationalism. Given the amount of regulation with which it is burdened, America’s economy can hardly be described as laissez-faire. Continue Reading...

June 16, 2021

Crypto and Blockchain: A flash in the pan or something more?

Ever since the first Bitcoin was mined in January of 2009, we’ve seen an ever-growing interest in cryptocurrencies and blockchain — the technology upon which Bitcoin is based. What are we to make of it all? Continue Reading...

June 05, 2021

America is crossing economic Rubicon of government management

If anyone had any lingering doubts about where American economic policy is heading over the next four years, those should have been removed by President Joe Biden’s proposed $6 trillion budget for 2022. Continue Reading...

September 01, 2020

Justice demands ‘Just Money’

Widespread civil unrest, social media fueled hysteria, and political polarization have infected our public life. Vice President Joe Biden suggested on Monday that these problems have been fomented by his opponent. Continue Reading...

April 02, 2020

No one knows what a return to ‘normalcy’ after COVID-19 will look like

At some point, not today but perhaps in the next few weeks, we will be having more conversations about getting people back to work and restoring the $21 trillion U.S. economy. Continue Reading...

July 26, 2017

The political implications of bitcoin

Prior to the publication of John Maynard Keynes’ The General Theory of Employment, Interest, and Money, balanced budgets reflected the received wisdom for governments. By making the case for debt spending in times of recession (and the virtually ignored case for restricting spending in times of growth), Keynes gave political leaders a license to abandon the requirement of balance. Continue Reading...

November 19, 2014

Radio Free Acton: Sound Money with Robert P. Murphy

On this edition of Radio Free Acton, we talk about sound money with economist and author Robert P. Murphy. What is money? Why does it have value? What happens when a government detaches the value of money from gold or other commodities? Continue Reading...

December 07, 2009

Bernanke Versus the Austrians

My essay in today’s American Spectator Online looks at why Ben Bernanke should not be confirmed to a second term as Chairman of the Federal Reserve: Two planks in Bernanke’s recovery strategy: Expand the money supply like a banana republic dictator and throw sackfuls of cash at failed companies with a proven track record of mismanaging their assets. Continue Reading...