The War against Cash, Part I

What matters is not the degree to which consumers prefer to use alternatives to cash. The problem is when governments use coercion to limit or abolish cash so that politicians have more power. 

December 22, 2015

A Home in Every Price Range

A rising tide of government spending may be bad for the American economy, but it’s great for the Washington area.

Interest On Reserves, Part I

I now turn to an even more mind‐​bogglingly wrongheaded step taken by Bernanke’s Fed in the course of the financial crisis: it’s decision to pay interest on banks’ excess reserves.