For centuries, production in capitalist countries seems to progress in some kind of “cycles”. Every few years, the economy experiences a period of sharp economic growth which is then upset by a collapse of businesses and a high unemployment rate — a recession. This cyclical movement of the market, repeatedly…
Hard money is one of the most well-known monetary terms used in practical discussions. From political discourses on policy decisions to the commentary debates of the financial sector, the term can be heard often enough to make even the ordinary citizens familiar with it. However, and despite its substantial use…
The introduction of Bitcoin to the world ten years ago as a new monetary system sparked new interest in the field of monetary economics. After a century of fully nationalized money production systems, and about five decades of an irredeemable national paper money standard, the battle for sound money seemed…
In the previous article, we dealt with the question of what money is, discussing its origins, and nature as a widely observable phenomenon. We saw that money is not the result of legislation, nor is it a collective agreement of the market participants. Rather, it is the predictable result of…
Money is probably the most discussed phenomenon in economic literature. The issue of its origin and nature was extensively discussed in the past by a vast number of economists and political scientists. …
The foundations for the prominent economic theory supporting leading policies worldwide for the last few decades was laid down by the mathematician John Maynard Keynes. …
