Hyperinflation

"The fateful errors of popular monetary doctrines which have led astray the monetary policies of almost all governments would hardly have come into existence if many economists had not themselves committed blunders in dealing with monetary issues and did not stubbornly cling to them." —Ludwig von Mises,…

Bitcoin

Many economists acknowledge that ordinary private goods and services need to “pass the market test”—generate revenue in excess of expenses—to show that consumers’ benefits (revealed by a willingness to pay) exceed producers’ outlays. But they make an exception when it comes to monetary instruments and payment systems….

“Why should we not let people use freely what money they want to use? [They] ought to have the right to decide whether they want to buy or sell for francs, pounds, dollars, D-marks, or ounces of gold. I have no objection to governments issuing money, but…