Steve Hanke Quotes
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The IMF is set up to deal with liquidity crises.
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Sanctions historically are quite counterproductive in the sense that if you impose sanctions on your enemy, it tends to strengthen your enemy.
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Trade balances are determined by national savings propensities, not exchange rates.
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Let the market, not politicians, determine the flow of rice, oil and other commodities. Lower, more stable prices will ensue.
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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.
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With interest rates artificially low, consumers reduce savings in favor of consumption, and entrepreneurs increase their rates of investment spending.
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It turns out that the rich are much better placed to feed at the public trough. The poor get crumbs.
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A minimum wage leads to higher levels of unemployment.
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There has never been a failure of a currency board anywhere in the world. These are tough systems, and when I say they are foolproof, that's exactly the case.
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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.