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A new paper with Chandler Reilly where we correct national accounts for war-induced distortions (and wartime price controls). We make a series of important findings. 1) The United States experienced, using the definition created by Tim Kehoe 🇺🇸🇨🇦🇲🇽🇺🇦 and Edward Prescott, a "Great

If there is ever a Nobel Prize for the theory of free banking, these two will win it. George Selgin vs. Lawrence H. White

It's sad to see the Bitcoin Policy Institute not just advocate liberty for BTC users, but to advocate for the federal government to enrich them at taxpayers' expense by purchasing BTC. btcpolicy.org/articles/bitco…

Heather Thomas apparently glanced at the text of the chapter but neglected to dig into the footnotes that cite the relevant evidence of successful free banking episodes.

Tariffs to do not "save America." They block American consumers and businesses from enjoying the benefits of international trade. Our choice is higher tariffs versus higher real incomes for average Americans.

I got two interview requests today from journalists who want to ask me about the economists’ anti-tariff petition that I signed! Unfortunately, both journalists work for Chinese state-owned media.

When a historian uses the phrase “zero-sum market-style conflict,” you have to question how well he or she understands the basic economic concept that trade in markets is mutually beneficial and hence positive-sum.

Thread: The belief that governments had to take money issuing over because they alone could be trusted not to abuse that privilege is perhaps the greatest of all monetary myths.

Theory tells us so; but we are also lucky to have some evidence to back the theory up, thanks to those relatively rare instances in which governments _didn't_ monopolize minting or banknote issuance. Here's Lawrence H. White on private gold mints: onlinelibrary.wiley.com/doi/abs/10.111…

FYI, this is just open protectionism by the banking lobby hoping to slow superior disruptive technology.

Really looking forward to this:

USC Art I, Sect 9, Clause 8: No ... Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State.

Of course, shortages may mean that you can’t get all the drugs you want, but think how much money you’ll save then!

With equal effectiveness, King Canute commanded the tide not to rise.

Nicholas A. Curott of Economics Department and Lawrence H. White of George Mason Economics explain how Adam Smith's monetary and banking policy advice did not serve either Alexander Hamilton's or Thomas Jefferson's political agenda. #CentralBanking #FreeBanking doi.org/10.1002/soej.1…

Calm, factual, informed take on stablecoins.

Certain monetary writings insist that, because banks are usually licensed or chartered by governments, any currency they issue is really a product of the state. I suppose they also think that, wherever fishing requires a license, governments are really catching all the fish.

I will never never understand people that observe the free market creating a wildly successful product people absolutely love and think “this sucks. the government should do it instead. and they could do it better probably”

Step 1. Have the federal government, which has zero record of success in retail payments, and which we have no reason to assume is an efficient producer, issue a stablecoin. Step 2. ? Step 3. Profit!