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Most students of economics today do not even know that monetary competition was the norm rather than the exception for large periods of human history. Even worse, almost none pay attention to this question at all. Tacit acceptance of legal tender laws and currency monopolies is the norm. This has resulted both in a true intellectual loss ...
With every passing leader comes a passing era. This can be good or bad – though few can have any regrets about the passing of North Korea’s brutal dictator, Kim Jong-il. With his death, we can only hope that the North Korean people will have more opportunities for political, cultural, and economic freedom. But this hope is ...
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