Steve Hanke Quotes

A minimum wage leads to higher levels of unemployment.
After the maxi yuan depreciation of 1994 and until 2005, exchange-rate fixity was the order of the day, with little movement in the CNY/USD rate.
Although floating and fixed rates appear dissimilar, they are members of the same freemarket family. Both operate without exchange controls and are free-market mechanisms for balance-of-payment adjustments.
Contrary to what most people think, bank money is much more important than state money. In Greece, for example, bank money makes up 84.26% of the total money supply.
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.
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.
Following Greece's defeat at the hands of Turkey in 1897, Greece's fiscal house was entrusted to a Control Commission. During the 20th century, the drachma was one of the world's worst currencies. It recorded the world's sixth highest hyperinflation. In October 1944, Greece's monthly inflation rate hit 13,800%.
Following its recognition as a state in 1832, Greece spent most of the remainder of the 19th century under the control of creditors. The pattern started with a default in 1832. In consequence, Greece's finances were put under French administration.
Government buffer-stock schemes are rife with politics, and instead of generating profits from buying low and selling high, they tend to generate losses.
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.
If you squeeze and squeeze, and you don't allow the Iranians to sell any oil, then what do they have to lose by shutting the Strait of Hormuz down? And if they do that, that's 35% of all the world's oil that comes through the strait and 20% of the liquefied natural gas in the world.
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.
In April 2013, Nathaniel Popper of 'The New York Times' reported on Bitcoin in an article titled, 'Digital Money is Gaining Champions in the Real World'.
In Argentina, if the weather is bad, critics will blame it on the currency board.
In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100.
It turns out that the rich are much better placed to feed at the public trough. The poor get crumbs.
Let the market, not politicians, determine the flow of rice, oil and other commodities. Lower, more stable prices will ensue.
Mercantilism was an insidious economic theory that held Europe in its thrall in the 16th, 17th and 18th centuries.
Most economists use 'fixed' and 'pegged' as interchangeable or nearly interchangeable terms for exchange rates.
Sanctions historically are quite counterproductive in the sense that if you impose sanctions on your enemy, it tends to strengthen your enemy.
12next›last»
Total Records : 34

Related Books

Author Profile

Votes :
Rating :
AuthorName
Steve Hanke
Profession
Economist
BirthDate
29 December, 1942
View Profile

Share to your friends..

Related Author

Alan Greenspan Alice Rivlin Arthur Laffer Barry Eichengreen Benjamin Graham Christina Romer Christopher A. Sims Clark Kerr Colin Camerer Dale T. Mortensen Dave Brat David Autor David Malpass Douglass North Edgar Fiedler Edmund Phelps Edward C. Prescott Edward Lazear Elinor Ostrom Emily Oster
view more

Popular Topics

Attitude Death Inspirational Life Love Motivational Nature Positive