BankNotes Archive – April 2018
BankNotes Articles from April 2018
Trade Deficits and Fiat Currencies
Robert P. Murphy [Originally published March, 2010.] There is a connection between fiat currencies and trade deficits, and many cynics have argued that the US dollar’s status as global reserve currency allowed Americans to consume more than they produced for decades. However, this “deficit without tears” argument is sometimes overstated. … Read more
Read More3 Economic Fallacies That Just Won’t Die
In any academic discipline, one can find two types of experts: those who are incapable of explaining complex ideas in a simple manner; and those capable of making the difficult look easy. This year marks the 25th anniversary of the death Henry Hazlitt, one of the few economists who belongs to the … Read more
Read MoreTrade and the Rise of Freedom
Thomas J. DiLorenzo [This speech was delivered at the Mises Institute’s conference on “The History of Liberty.”] It is not an exaggeration to say that trade is the keystone of modern civilization. For as Murray Rothbard wrote: “The market economy is one vast latticework throughout the world, in which each … Read more
Read MoreThe Looming Mortgage Liquidity Crisis
Doug French Every 10 years or so there is a banking crisis. We are due. However, the furthest thing from most people’s minds with the Trump boom is a banking/financial crisis, except for a few folks at the Brookings Institution, who just released a paper entitled “Liquidity Crisis in the Mortgage … Read more
Read MoreWhy Passionate Educators Should Consider Leaving Academia
Professors and teachers: The best way to increase the quality and engagement of students is to separate your instruction from accredited institutions. Offer your instruction to excited customers in the market! Don’t complain about low-quality students; they’re not there for you and mostly don’t care about your ideas. They’re … Read more
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