Essays & News

  There is no art which one government sooner learns of another than that of draining money from the pockets of the people. Adam Smith Today Adam Smith’s reputation rests on his explanation of how rational self-interest in a free-market economy leads to economic well-being. It may surprise those who would discount Smith as an […]

Ralph Malisch wrote this excellent piece summarizing the XVII Gottfried von Haberler Conference in Smart Investor. For all who missed the opportunity to attend our key event this year, we republish the material. Central Bank Digital Currencies (CBDC) were the main focus of the discussions in 2023.

History shows that various monetary and exchange rate regimes can work well or poorly, depending on the countries’ circumstances and policies. Very similar beginnings but many different outcomes today – that is how one may sum up the history of monetary and exchange rate policy in the postcommunist countries of Central and Eastern Europe. Yet […]

Papierwährungen neigen dazu, über die Zeit kräftig an Wert zu verlieren. Kryptowährungen oder Gold bieten bis jetzt nur beschränkt brauchbare Alternativen. Sie sind aber wichtig, um Notenbanken und Politik zu disziplinieren. Read the whole material:  NZZ zum Währungswettbewerb und der Haberler Tagung https://www.nzz.ch/pro-global/papiergeld-gold-und-krypto-was-wenn-das-geld-zerrinnt-ld.1738717?reduced=true