Monetary Theory

The current bout of inflation is the latest disaster in a string of disasters caused by government debasement of once sound money.

Standard neoclassical definitions of money call it a means of exchange and a store of value. But is this correct?

The current bout of inflation is the latest disaster in a string of disasters caused by government debasement of once sound money.

Inflationism terrorizes us.

Economic calculation requires a monetary system that is not sabotaged by government interference.

"Most of the advocates for tender laws are those who have debts to discharge, and who take refuge in such a law, to violate their contracts and cheat their creditors."

The original monetarists (Milton Friedman), Scott Sumner, and problems with market monetarism.

There are two very effective ways to destroy an economy: hyperinflation and central planning.

Lucas Engelhardt summarizes the basics of MMT.

"We would not expect money to be paper, national, or under the control of any entity."