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Archive of posts published in the tag: The Scandal of Money

The Volatility of Velocity

Milton Friedman’s basic theory was MV=PT. The supply of Money times its Velocity or turnover equals the Price level times the number of Transactions.  Milton assumed the Velocity was relatively fixed and that therefore the control of the supply of…

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The Buyer of Last Resort

So there we have it. The unicorn buyer of last resort will be the Fed. The “lender of last resort” for the financial system, the governmental guarantor for all the big banks and other “systemically important financial institutions,” the backup…

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The Hypertrophy of Finance

George Gilder explains how the management of our money system has increased inequality. While the trade in goods and services has remained stagnant the volume of trade, and the ensuing profits, in currency trading and financial instruments has grown substantially,…

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Capitalism Updated

Progressivism can be viewed as socialism lite, paying homage to the great progress of capitalism while acknowledging some of the limitations of a free market. Social and economic theories develop, mature and evolve as they face the hard tests of…

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The Primary Cause of Economic Stagnation

State control of money has become a force for government economic centralization, wreaking havoc on economies around the globe, whether capitalist or socialist. By controlling money supplies, central banks and their political sponsors determine who gets money and thus who…

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Velocity is Freedom

The big prize at Freedom Fest was George Gilder, most famously noted for his Wealth and Poverty. His new book is The Scandal of Money. Gilder wrote of travelling to China with Milton Friedman and respectfully challenges many of Friedman’s…

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