In my last post, I compared the functions of cryptocurrencies to those of clearinghouses in terms of the ease with which they can help financial institutions clear balances between one another. This…

In a story about entrepreneurship, you might not expect the main character to be a military colonel. Common perception tends to see the entrepreneur as one who builds a firm, attempting to earn…

The 2008 housing crisis led to a record number of home foreclosures. In response, millions of Americans demanded accountability from financial markets. To some, the crisis served as proof of the…

I realize I may have lost some readers just by the title of this post. It turns out only 6 in 10 Americans have a positive view of the word “capitalism.” This is despite 85 percent of Americans having…

Many people are familiar with the gold standard, but few understand it. The gold standard was the system whereby gold and claims to gold were used as money.

For nations operating under the gold…