Perhaps the money of the future isn’t some sophisticated crypto token, but a private promise to consume a widely used service.
Standing accused of all kinds of allegedly harmful things ranging from wealth inequality to privacy invasions, from voraciously destroying the Earth to indebting poor people, the idea of capitalism is in trouble.
What angers most people about climate alarmists is their doublethink, cognitive dissonance, and ability to rationalize their own behavior.
By removing the market’s solution to collapsing banks, this unraveling forced electorate-sensitive governments to take up the residual risk and backstop the financial system that Scottish banks themselves so effectively regulated in the past.
A “hostile” corporate raider can only buy shares that others voluntarily sell.
Ronald Reagan once remarked that the nine most terrifying words in the English language are: "I'm from the government and I'm here to help." Similarly, the financial economist Campbell Harvey recently wrote that the four most dangerous words, feared by central bankers...
The confused objections to share buybacks illustrate the failure to look past the immediate effect and to understand what financial markets do.
Rothbard does not refute White’s thesis that Scottish banking was less regulated and hence more stable and well-functioning than England’s banking system in the same 145-year period.