Monetary Theory

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Accounting and Accountability in Government

Big GovernmentMoney and BanksMonetary Theory


This is a story about Linda Combs, who cleaned up the government's financial reporting process.

A remarkable fact jumps off the page at me: "Nineteen of the 24 agencies received unqualified audit...

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"Insider Trading" is Back

Legal SystemCapital and Interest TheoryMonetary TheoryPhilosophy and Methodology


The ancient transgressions of murder, pillage, bestiality, thievery, and rape still shout from the headlines. O Tempora, O Mores, as the ancients proclaimed in dismay a couple millennia ago: meaning what crummy people, what crummy times. They ought to read this morning's paper — they...

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Was Rothbard an Auromaniac?

Monetary Theory


Sophistpundit gives What Has Government Done to Our Money (print,...

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Give The Japanese An "A" for Effort

Global EconomyCapital and Interest TheoryMonetary Theory


Historically, you know, we have a couple of grievances with the Japanese. First, healed over like an old wound, are the events of December 7, 1941. In the usual American tradition, we won that war but we lost the peace — said the experts. (I'll tell you why later.) Next, was the Great...

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Plug that Nickel!

Money and BanksInterventionismMonetary TheoryValue and Exchange


In a neat admission that his bosses are rotting the money in our pockets, Chicago Fed economist Francois Velde has come up with a bright idea: debase the nickel by a factor of five!

"The problem [...

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US Edges Perilously Closer to World Economy

Monetary TheoryValue and Exchange


It seems a certain pizza chain in the American Southwest currently accepts Mexican pesos as well as dollars for their pies. This business practice resembles that not only of international airports all over the...

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An unlikely champion

Monetary Theory


From the heart of the would-be global Hoi Phylakes — the Council for Foreign Relations — comes a piece written by their Director of...

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The Keynes of Marx; the brother Groucho that is

Media and CultureMonetary Theory


While watching the classic comedy Animal Crackers, I laughed as Groucho Marx — playing the character Captain Spaulding — engaged a gentleman named Chandler in...

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China Raises Reserve Requirements Again

Financial MarketsMonetary Theory


China again raises reserve requirements of banks . This was the fourth time in just seven months that they did this. If they keep this up, fractional reserve banking might be ended in China soon!

No, not really...

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