dollar

  The concept of credit money, introduced by Ludwig von Mises in 1912 in his work “The Theory of Money and Credit,” receives little attention. Yet the concept of credit money can be beneficial in historical analysis. Mises distinguishes between three types of money in the narrower sense: physical money, credit money, and token money […]

  Earlier in 2024, global government debt hit a record $91.4 trillion, according to the Institute of International Finance, the global association of the financial industry. The world’s combined gross domestic product (GDP) in 2024 is projected to be approximately $109.5 trillion. The International Monetary Fund (IMF), which promotes global monetary cooperation, financial stability and economic growth, […]

When leaders of the BRICS group of emerging economies – Brazil, Russia, India, China and South Africa – convene at a summit in Johannesburg this week, de-dollarization and the establishment of a common currency will be at the top of the agenda. Across Southeast Asia, Africa and the Middle East, there are now concerted efforts […]