Milton Friedman

Steve H. Hanke's picture

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

Over the weekend, the New York Times reported that WikiLeaks transcripts suggested that the International Monetary Fund (I.M.F.) had discussed the possibility of hatching nefarious plots against Greece. Immediately, Prime Minister Alexis Tsipras accused the I.M.F. of trying to “politically destabilize Europe.”

Japan Goes Full Krugman: Plans Un-Depositable, Non-Cash "Gift-Certificate" Money Drop To Young People

The Swiss, the Finns, and the Ontarians may get their 'Universal Basic Income' but the Japanese are about to turn the Spinal Tap amplifier of extreme monetary experimentation to 11. Sankei reports, with no sourcing, that the Japanese government plans to unleash "vouchers" or "gift certificates" to low-income young people to stimulate the "conspicuous decline" in consumption among young people. The handouts may not be deposited, thus combining helicopter money (inflationary) and fully electronic currency (implicit capital controls and tracking of spending).

Toward A Grand New Bargain: How Donald Trump Can Clear The Field And Realign American Politics

It’s actually pretty easy. At an apt moment very soon, Trump should offer Governor Kasich the VP slot and Senator Cruz the vacant Supreme Court seat. Such a grand bargain would not only clear the primary field and quash any backroom hijacking of the nomination by the Washington GOP establishment; it would also permit each man to play his highest and best role at this great inflection point in the nation’s history.

Life And Times During The Great Depression

I thought the Depression was going to go on forever. For six or seven years, it didn’t look as though things were getting better. The people in Washington DC said they were, but ask the man on the road? He was hungry and his clothes were ragged and he didn’t have a job. He didn’t think things were picking up.”

Six Reasons To Buy Gold In 2016

“Betting against gold is the same as betting on governments. He who bets on governments and government money bets against 6,000 years of recorded human history.” – Charles De Gaulle

Fear The Smell Of (Monetary) Napalm In The Morning

If central bankers think that "helicopter money" might be an option to combat deflationary pressures and sluggish economies, the right time to launch the choppers is before consumers realize they need them. As history shows, after that, it is too late.

Hillary Clinton’s Six Foreign-Policy Catastrophes

Many commentators have mentioned that Hillary Clinton left behind no major achievement as the U.S. Secretary of State; but, actually, she did. Unfortunately, all of her major achievements were bad, and some were catastrophic. Six countries were especially involved: Honduras, Haiti, Afghanistan, Libya, Syria, and Ukraine. The harm she did to each country was not in the interest of the American people, and it was disastrous for the residents there. Hillary Clinton at every campaign debate says “I have a better track-record,” and that she’s “a progressive who gets things done.” Here’s what she has actually done when she was Secretary of State...

The Chilling Ways The Current Global Economy Echoes The 1930s Depression Era

The imbalances that low rates and elasticity produce may “return us to the modern-day equivalent of the divisive competitive devaluations of the interwar years; and, ultimately, [trigger] an epoch-defining seismic rupture in policy regimes, back to an era of trade and financial protectionism and, possibly, stagnation combined with inflation.”

Visualizing The World's Most Famous Case Of Deflation, Part 1

The Great Depression was the most severe economic depression ever experienced by the Western world. It was during this troubled time that the world’s most famous case of deflation also happened. The resulting aftermath was so bad that economic policy since has been chiefly designed to prevent deflation at all costs.