Inflation is the one form of taxation that can be imposed without legislation.

If an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the …

The business of business is business.

I am a limited-government libertarian.

On the level of political principle, the imposition of taxes and the expenditure of tax proceeds are governmental functions. We have established elaborate cons…

All my adult life I have seen British governments driven off their virtuous pursuit of low inflation by market problems or political pressures. I was under no …

The stock of money, prices and output was decidedly more unstable after the establishment of the Reserve System than before. The most dramatic period of instab…