BankNotes Archive – January 2018
BankNotes Articles from January 2018
Why Do We Use Money?
By Robert Murphy Although it’s a pretty basic question, it’s worth asking: Why do we use money? Once we think through the answer, it becomes clear just how awful our current monetary system is. For those wanting a comprehensive treatment, I refer you to our book (co-authored with Carlos), How … Read more
Read MoreThe State’s War on Student Debtors Is Heating Up
Unlike most any other debt, student loan debt can’t (normally) be dismissed in bankruptcy, and millions of graduates and non-graduates are struggling to live out the American dream saddled with thousands of dollars in student debt, and in some cases bleak job prospects to pay it back. If that’s not … Read more
Read MoreMillennials Get It Wrong about Socialism
by Benjamin Powell Last month’s 100th anniversary of the Russian Revolution is an appropriate occasion to remind us of the human atrocities committed by communist regimes. But we also should take time to reflect on the progress that has occurred since the fall of the Soviet Union and its socialist … Read more
Read MoreThe Corrupt Origins of Central Banking
Thomas J. DiLorenzo [Originally published December 2008.] Central banking has been a corrupt, mercantilist scheme and an engine of corporate welfare from its very beginning in the late 18th century. The first central bank, the Bank of North America, was “driven through the Continental Congress by [congressman and financier] Robert … Read more
Read MoreThe US Constitution Was Never Necessary for Military Defense
Ryan McMaken Before the US Constitution of 1787 was ratified, its proponents have claimed a centralized and powerful American state was necessary for the purposes of military defense. But, as the Anti-Federalists of the time pointed out, the older constitution (known as the Articles of Confederation) had already been sufficient … Read more
Read MoreA Small Revolution
by Jeff Deist Dr. Robert Murphy and I enjoyed a robust discussion of the current political landscape this past weekend at the University of Central Florida. A significant percentage of attendees, maybe half, agreed with the proposition that the US is past the point of political solutions. Everyone agreed, regardless … Read more
Read MorePope Francis Is Mistaken about Free Markets
Meeting with global-finance students recently at the Chartreux Institute in Lyon, France, Pope Francis warned them “to remain free from the lure of money, from the slavery in which money traps those who worship it.” He also counseled them not to “blindly obey the invisible hand of the market” but … Read more
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