monetary policy Archives - Ethics & Public Policy Center

America Enters a Jacques Rueff Moment

As President Trump charts his course back to prosperity, the confusing economic situation is signaling that the best sage for him to consult would be Jacques Rueff.

Don’t Make America Great Britain

Don­ald Trump promised to “make Amer­ica great again,” but he might make Amer­ica Great Britain. To re-in­dus­tri­al­ize the U.S. econ­omy, Pres­i­dent Trump must avoid the mis­take that de-in­dus­tri­al­ized Britain: namely, he must end the dol­lar’s role as the world’s chief re­serve cur­rency.

The Cause and Mechanisms of American De-Industrialization

An effective solution to the decline of American manufacturing highlighted in the new book Advanced Manufacturing, it seems, requires either a change of mind by President Trump, or a different president.

Jeff Bell Was George Bailey

To those who knew him well, Jeffrey L. Bell was a real-life George Bailey: an accomplished and decent man who shaped important events by helping others achieve their own greatness, mostly without recognition himself.

Solving the Triffin Dilemma

There have always been only three alternative solutions to the Triffin Dilemma–the inherent conflict of a reserve-currency country’s economic policy with international monetary order—and only one has ever worked in the real world.

Trump’s Real Trade Problem Is Money

Protectionism won’t cure the import-export imbalance. The solution lies in monetary policy.

Monetary Reform or Trade War

The official reserve-currency system causes the domestic price level to rise in the reserve-currency country, relative to other countries, even when exchange rates remain (temporarily) fixed–a competitive disadvantage that tariffs can only worsen, and only proper monetary reform can fix.

Neo-Scholastic Economics, Economic Policy and Catholic Social Doctrine

The original Scholastic Economics differed from Adam Smith’s later Classical economic theory and today’s Neo-Classical Economics. An updated version, “Neo-Scholastic Economics,” is reshaping our understanding of secular economic theory and offering new policy solutions, and provides the analytical “toolkit” necessary to explain the much younger body of Catholic social doctrine.

Still Paying the Price of Keynesian Currency

Now, as in 1929 and 2008, Americans need real protection from economic harm. But this harm is not caused by immigrants or foreigners, but by the reserve currency scheme of John Maynard Keynes, and the currency wars which his scheme has caused for a century.

Money and Inequality

Though most economic inequality–both between and within countries–is due to differences in what Nobel economics laureate Theodore W. Schultrz called ‘human capital’,’ the current monetary system also breeds systematic economic inequality among American households.