There is always the potential for a central bank to engage in discretionary monetary policy and to break the one-to-one link between changes in foreign reserves and changes in the money supply. Steve Hanke Read Quote
It turns out that the rich are much better placed to feed at the public trough. The poor get crumbs. Steve Hanke Read Quote
During the last two centuries, there have been many deflations throughout the world. Almost all of them have been good ones precipitated by technological innovation, rising productivity, global capital flows, and sustained economic growth. If farm mechanization cuts the price of wheat, you get a rising living standard. This is good. Steve Hanke Read Quote
Most economists use ‘fixed’ and ‘pegged’ as interchangeable or nearly interchangeable terms for exchange rates. Steve Hanke Read Quote
During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long as inflation remains at or below its target level, the Fed’s modus operandi is to panic at the sight of real or perceived economic trouble and provide emergency relief. Steve Hanke Read Quote
With the passing of Milton Friedman on November 16, 2006, we lost one of the great champions of free markets. Steve Hanke Read Quote
In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the financial press was filled with reportage on Bitcoin and its dramatic price increase. Steve Hanke Read Quote
High mandated minimum wages will throw people out of work and onto the welfare rolls in cases where unemployment benefits exist. When it comes to welfare payments, they obey the laws of economics, too. Indeed, if something – like unemployment – is subsidized, more of it will be produced. Steve Hanke Read Quote
Government buffer-stock schemes are rife with politics, and instead of generating profits from buying low and selling high, they tend to generate losses. Steve Hanke Read Quote
Let the market, not politicians, determine the flow of rice, oil and other commodities. Lower, more stable prices will ensue. Steve Hanke Read Quote