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. Steve Hanke bankcontrarygreece Change image and share on social
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'. Steve Hanke aprilarticlebitcoin Change image and share on social
With the passing of Milton Friedman on November 16, 2006, we lost one of the great champions of free markets. Steve Hanke championfreefriedman Change image and share on social
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. Steve Hanke bitcoindramaticfill share on social
Most economists use 'fixed' and 'pegged' as interchangeable or nearly interchangeable terms for exchange rates. Steve Hanke economistexchangefix Change image and share on social
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. Steve Hanke adjustmentbalancecontrol share on social
In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100. Steve Hanke backbitcoinbuy Change image and share on social
The most important lesson to take away from allowing the minimum wage and unemployment benefit data to talk is that abstract notions of what is right, good and just should be examined from a concrete, operational point of view. A dose of reality is most edifying. Steve Hanke abstractallowbenefit share on social
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. Steve Hanke 19thadministrationcentury share on social
There is always the potential for a central bank to engage in discretionary monetary policy and to break the one-to-one link between changes in foreign reserves and changes in the money supply. Steve Hanke bankbreakcentral Change image and share on social
