We Have A Freer World Because Of

There's Only One Thing That All Of The Central Banks Control And That Is The Base, Their Own Liability, And They Can Control That In Various Ways. They Can Control It Directly By Open Market Operations, Buying And Selling Government Securities Or Other Assets, For Example, Buying And Selling Gold, Or They Can Control It Indirectly By Altering The Rate At Which Banks Lend To One Another.

By Encouraging Men To Spy And Report On One Another, By Making It In The Private Interest Of Large Numbers Of Citizens To Evade The Controls, And By Making Actions Illegal That Are In The Public Interest, The Controls Undermine Individual Morality.

If You Continue To Use Monetary Policy To Attempt To Promote Full Employment The Result Would Be That You Would Have Higher Inflation, And That You Would Not Have Lower Unemployment.

The Euro Is Good For Europe. But Only If There Is Flexibility All Around.

Only A Crisis, Actual Or Perceived, Produces Real Change.