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This paper examines central banking in general and the Federal Reserve system in particular from the perspective of the theory of public choice. It is common to rationalize central banking as being ...
What is commonly called “money” can be held in either of two forms. There are deposits, from which payments can be made by check, and currency or hand-to-hand money. Even though the total demand fo...
The Great Monetary Paradox Most conventional economists are very much aware of markets. Indeed, a sound understanding of the function of markets and prices is what distinguishes economists from eve...

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