Patrick Barron
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As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Articles
Confidence Is Essential for a Fiat Currency
“US Dollar” by emilleilmansyah is marked with CC BY-SA 2.0. Since fiat currencies, per se, are not redeemable for anything other than themselves, their very existence depends upon confidence. The issuing authority must not inflate the currency’s size to the point that it begins to lose purchasing power in the market at an abnormal rate. As long as the public is willing to hold the currency, its purchasing power need not depreciate at a noticeable rate.
What It Means to Be an American
Image by Sunrise from Pixabay There is a very big difference between being an American and a citizen of any other nation We often hear that Americans are special. We may even say that ourselves. But what does that mean? Does it mean that we have the world’s largest economy? Does it mean that we have a very powerful military? Does it mean that our dollar is the world’s premier reserve currency? Do we even know what that is? I doubt that one person in a hundred can tell you.
What Is Inflation?
“Inflation is always and everywhere a monetary phenomenon.”–Milton Friedman “Inflation” is an increase in the money supply. Higher overall prices are the result of an increase in the money supply. To say that higher prices cause inflation is akin to saying that “higher prices cause higher prices”. We have before us an excellent example that higher oil prices do not cause inflation. But a disruption of supply of an essential commodity, like oil, will causes a recession.
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