Essays & News

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

Despite the bipartisan standoff, Republicans and Democrats will likely come to a last-minute agreement to lift the public debt ceiling beyond the current $31.4 trillion. IN A NUTSHELL A compromise on revenue and spending is likely to emerge from talks Politicians have lost credibility because of repeated debt ceiling hikes An extended impasse threatens to […]

Generalizing can lead one astray in interpreting history, but the record of thousands of years of human civilization shows with reasonable clarity that powers rise, often become arrogant, overreach and decline. As decline breeds unrest, a declining power is dangerous. When that happens, other major powers also tend to act unreasonably. They do not grasp […]

Prepared for the European Center of Austrian Economics Foundation’s 2023 Gottfried von Haberler Conference, “Taking Money out of Politics: A Case for Private Money?,” Vaduz, Liechtenstein, 12 May 2023. Much of the argument here is spelled out in more detail in my recently published book Better Money: Gold, Fiat, or Bitcoin? (Cambridge University Press, 2023). […]