As Steve Forbes stresses, the role of currencies is to serve as a standard of value, representing a measuring stick of the worth of goods and services. “Floating the currency is like floating the clock. Let’s say you floated the
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Money will not purchase happiness for the man who has no concept of what he wants: money will not give him a code of values, if he’s evaded the knowledge of what to value, and it will not provide him
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The work of noted economist John Maynard Keynes is used to justify a bigger government role in the economy. After the recent (or more accurately current) crisis it is understandable that many would return to this economist. Yet most who
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The McCain Feingold bill sought to restrict the influence of big money in politics. Yesterday it was struck down as a violation of free speech. It should have been. When one avenue of influence is cut off it just finds
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George Copper writes in “The Origin of Financial Crisis” that our economic thinking is regimented for failure in a world that is more influenced by the bubbles in financial assets. The efficient market hypothesis contends that prices find their natural
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