Category: News

The Market Process Is Indivisible and Logically-Interdependent

Virtually every economic policy is theory-laden, and at the root of each economic theory lies a fundamental notion of the market as either an “interdependent system of logically necessary relations” or an “aggregation of autonomous events.”
Seeking Refuge from Monetary Manipulation

Paper money that rolls off the presses without a commodity behind it has never been accepted without government fiat. It derives its power from the guns behind it in the form of legal tender laws.