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Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.
The fall of the Berlin Wall really demonstrated beyond the shadow of a doubt that there was a bad system, and what subsequently happened in the Soviet Union, that that system was a failure.
Positive economics is in principle independent of any particular ethical position or normative judgment...In short, positive economics is or can be an "objective" science.
I think there is universal agreement within the economics profession that the decline - the sharp decline in the quantity of money played a very major role in producing the Great Depression.
When you have a time of crisis what happens depends on what ideas are floating around, and what ideas have been developed, and thought through, and are made effective.
If you continue to use monetary policy to attempt to promote full employment the result would be that you would have higher inflation, and that you would not have lower unemployment.
Big Linux deployments have reached the point where it's become a real problem for administrators that they don't have nice tools to manage their servers and desktops.
When employers no longer offer secure full-time employment with benefits, then it's hard to expect employees to be loyal, engaged, and maximally productive.
If e-mail had been around before the telephone was invented, people would have said, 'Hey, forget e-mail! With this new telephone invention I can actually talk to people!'.
A generation ago [the Democratic Party] stood for progressive change. Now they defend every federal program as if each were sacred. They have become the most conservative force in American politics.
Two things are going on at the same time with the flattening of the world: The relentless quest for efficiency is squeezing some of the fat out of life.
Cutting government spending and government intrusion in the economy will almost surely involve immediate gain for the many, short-term pain for the few, and long-term gain for all.
If you really want to engage in policy activity, don't make that your vocation. Make it your avocation. Get a job. Get a secure base of income. Otherwise, you're going to get corrupted and destroyed.
The free market is not only a more efficient decision maker than even the wisest central planning body, but even more important, the free market keeps economic power widely dispersed.
In a free society, it is hard for 'good' people to do 'good', but that is a small price to pay for making it hard for 'evil' people to do 'evil', especially since one man's good is another's evil
The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A.