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Global EconomyMoney and BanksMoney and BankingPolitical Theory
The world monetary order is changing. Slowly but steadily, global trade and currency markets are becoming less dollar-centric.
Money and BanksMoney and Banking
Far from being neutral, inflation leads to changes in political institutions, and these changes push up unemployment over time.
The FedMoney and BanksMoney and Banking
With an election coming, the Fed has lost its enthusiasm for raising interest rates, much to the benefit of the incumbent party.
Booms and BustsMoney and BanksMoney and Banking
There are really two types of asset-price-inflation periods. One is the "boom" type, but the other is the current "depression" type.
It is impossible to isolate the "natural rate" and policies aimed at an unknown interest-rate target end up increasing instability.
Money and BanksMoney and BankingPolitical Theory
Do central banks have a plan? Do they know what they are doing? The BBC wonders, and Jeff Deist provides some of the answers.
People have a natural preference for having good things now instead of having them later. This is a problem for advocates of negative interest rates.
Global EconomyMoney and BanksMoney and Banking
Americans are saving very little money for emergencies. Unfortunately, central banks have been encouraging the same thing worldwide.
Money and BanksMoney and BankingValue and Exchange
As another step toward greater use of negative interest rates, the abolition of cash will only lead to the destruction of wealth.
Money and BanksPolitical Theory
Rather than focus too much on lamenting politics and the state, we should be heartened by how far we've come — and go forward confidently.