The Federal Reserve makes mistakes in monetary policy and causes business cycles. A free market solution to the failure of central economic planning is competition in money and banking. A second currency, the "Gold Eagle," should be issued and allowed to compete with the dollar. (SR)

Presents a teaching model that is consistent with the traditional approach to demonstrating the expansion and contraction of the money supply. Suggests that the model provides a simple and convenient visual image of changes in the monetary system. Describes the model as juxtaposing the behavior of the moneyholding public with that of the…

While the current inflation problems are neither totally new nor unique, economic history shows that neither are these problems necessary nor inevitable. (Author)

This paper describes the Schumpeterian schema of capitalist business cycles. The creator of the model, Joseph A. Schumpeter (1883-1950), was a Czech-born and Viennese-educated theoretical economist who emigrated to the United States in the 1930s and taught at Harvard University for 18 years. He is particularly remembered in economic circles for…

Identifies some of the more essential features of the administered price thesis and discusses ways they might be integrated into mainstream economic theory. Available from: General Secretary, Economics Association, Room 340, Hamilton House, Mabledon Place, London WC1H 9BH, England. (Author/AV)

Theories and models dealing with the vicious cycle between exchange rates and domestic inflation and the way in which this relationship has influenced the economic policies of European nations are reviewed. Attempts of European nations to avoid the cycle of depreciation and inflation are covered. New theories may be necessary. (IS)

This curriculum guide emphasizes that economics is a method of thought or analysis and highlights the teaching of macroeconomic concepts. Definitions of economics, economic actions and their results, individual and group relationships, and supply and demand principles are reviewed. Macroeconomic concepts that are introduced include: (1) economic…

This is one of a series of essays adapted from articles in "On Reserve," a newsletter for economic educators published by the Federal Reserve Bank of Chicago. This pamphlet explains how public debt incurred by the federal government may not be necessarily bad from an economic perspective. The sections of the pamphlet include: (1)…

Asserts that many macroeconomics textbooks include arguments about national fiscal policy that may not be relevant nor accurate. Concludes that counter cyclical fiscal policy restricted to changes in income taxes and transfer payments are weak tools in efforts to pull a nation out of recession. (CFR)

Explains the use of forwards, futures, swaps, and options in international currency trading. Argues that pricing options are based on the same basic principles as pricing other financial instruments. Concludes that, although financial markets have developed several new products, hedging and speculation involve similar processes. (CFR)

To assist policy makers, scholars, businessmen, the press, and the public by providing objective analysis of national and international issues, this research institute has presented a special economic analysis which details the views of a University professor of economics on the recent United States wage-price freeze. Focusing on the shortcomings…

This pamphlet recaps the chain of events known as The Bank Panic of 1907. Historians view this as a watershed event that had a lasting impact on the financial system of the United States. The panic resulted from the collapse of the United Copper Company and was averted with the intervention of John D. Rockefeller and the J. P. Morgan Company. The…

This pamphlet defines "national debt," explains how the national debt is incurred by the federal government, and what deficits are. The sections of the pamphlet include: (1) "Definitions"; (2) "History"; (3) "Measurements"; (4) "Problems"; and (5) "Strategies." The text is written in a…

The major new development in American economics is the abandonment of neo-Keynesian economics and the reliance on modern monetarism and the rational expectation approach. The result is a stagnant economy with high unemployment. The reasons for this change and its implications are discussed. Suggestions for change are made. (IS)

Discusses real business cycle analysis, growth theory, and other economic concepts in the context of the rational expectations revolution in macroeconomics. Focuses on post-1982 research. Concludes that the rejuvenation of growth analysis is an encouraging development because it could lead to changes in welfare policy. (CFR)