Economics Archives

Inflation Is Taxation Without Legislation: Was Friedman Right?

Is the Federal Reserve responsible for inflation? Is inflation essentially a tax? Milton Friedman once said that inflation is taxation without legislation. Edward Griffin agrees. He asserts that the Federal Reserve is responsible for inflation, and he’s concerned that inflation constitutes an unfair, hidden tax whereby the American people pay for the government’s expenditures without realizing it. Read more to understand Griffin’s argument.

Fractional Reserve Lending: How the Fed Facilitates Fraud

What’s fractional reserve lending? Is it ethical? Edward Griffin asserts that the Federal Reserve facilitates and legalizes fraud by allowing banks to engage in fractional reserve lending. He explains what the practice is and argues that it’s not ethical. Read more to understand this prolific banking practice.

Federal Reserve Conspiracies: Bank Cartel & World Domination

What conspiracies are associated with the Federal Reserve? Is there anything to them? Edward Griffin discusses two conspiracies that are said to be behind the Federal Reserve: the bank cartel conspiracy and the world domination conspiracy. Griffin believes that these help us understand what’s going on with the Fed specifically and economics and politics in general. Keep reading to learn about these two Federal Reserve conspiracies.

The Creature From Jekyll Island: Book Overview & Takeaways

How does the Federal Reserve System affect the economy? Should it be abolished? If so, how? In his book The Creature from Jekyll Island, Edward Griffin argues that much of what the Federal Reserve does is contrary to the best interests of the American people. He lays out a case that the Fed harms the economy, and he offers a strategy to abolish the system. Continue reading for an overview of this thought-provoking book.

Vacklav Smil: Electric Cars Won’t Save Us

How do cars contribute to climate change? Can electric cars offset the carbon footprint of gas-powered cars? The age of the car began on August 12, 1908. This was the day the first Model T was assembled, making cars a much more affordable commodity. The automobile has had an enormous impact on the world but is also a major contributor to carbon emissions. Let’s look at the numbers behind vehicles to explain why they are so inefficient as a means of transportation and why electric cars won’t save us.

The Top Advantages and Disadvantages of Capitalism

Are you on the fence about capitalism? What are the advantages and disadvantages of capitalism? Capitalism is an economic system where resources and firms are privately owned without government intervention. There is an ongoing debate between critics and supporters of capitalism because of its many advantages and disadvantages. Below, we’ll look at why capitalism is a heavily debated topic around the world.

Low Birth Rates: What Are the Economic Implications?

How long have fertility rates been falling? What are the economic implications of low birth rates? Falling fertility rates have the potential to significantly alter global dynamics in the 21st century. From 1950 to 2000, the global fertility rate dropped from around 5 to 2.6. If global fertility rates keep declining at the same rate, severe economic consequences are in order. Keep reading to learn about the economic repercussions of increasingly low birth rates.

How to Make Parenting Decisions Less Stressful

How can you make your parenting decisions less stressful? What is economic reasoning? Emily Oster specializes in health economics and wrote Cribsheet to show the ways data can inform your parenting decisions. Oster’s findings in Cribsheet are relevant for any parents of young children and soon-to-be parents seeking advice on making research-informed, less stressful parenting decisions. Read on to learn how Oster says you can stress less over parenting decisions with economic reasoning.

What Are the Economic Benefits of Vaccines?

What role do vaccines play in a country’s economy? How can increasing vaccination rates help combat poverty in underdeveloped countries? Vaccines are one of the most underestimated ways to increase a country’s standard of living. In underdeveloped countries, where infections are prevalent, increasing vaccination rates can even help lift the populace out of poverty. Keep reading to learn about the economic benefits of vaccines.

GDP and Standard of Living: Are They Even Related?

How accurately does national GDP reflect a country’s quality of life? What are the flaws with benchmarking a national standard of living against GDP? Gross Domestic Product (GDP) is commonly used as an indicator of a national standard of living. However, this is not necessarily the case. According to Vaclav Smil, the author of Numbers Don’t Lie, there are several reasons why we shouldn’t use GDP as a measure of a country’s quality of life. Here’s a look at GDP and standard of living.