The argument that "there is no subtler, no surer means of overturning the existing basis of society than to debauch the currency" (J M Keynes, 1921) may well be true. But it still makes one wonder what comes first: the dysfunction of society or the destruction of money. These days one could argue that in a lot of countries it is a mal-functioning political system that leads to desperate measures like Quantitative Easing as cooked up by the Frankenstein economists running the Fed, Bank of England, ECB and Bank of Japan. See also Dylan Grice
A Victory for Freedom of Choice
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In February 2012, I wrote on EconLog:
Nevertheless, there is a way that the federal government now *cuts access*
to contraceptives in a way that *substan...
6 hours ago