Friedman on FX Regimes
With the passing of Milton Friedman last November, we lost one of the great champions of free markets. Friedman’s obituaries …
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Reflections on Turkey’s Economy
Stability might not be everything, but everything is nothing without it. Turkey’s current government has learned this lesson and delivered …
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Prepare for a Storm
In late February Alan Greenspan warned of the possibility of a recession. The next day the markets took a dive. …
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The World’s Greatest Unreported Hyperinflation
Zimbabwe has entered the hell of hyperinflation. Indeed, inflation in March rose by well over the 50% monthly threshold for …
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Hyperinflation
In march prices rose by more than 50% as Zimbabwe entered the hell of hyperinflation. That was followed, on Apr. …
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Fewer Central Banks, Please
Central banks issue currency and exercise wide discretion over the conduct of monetary policy. Although widespread today, central banks are …
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