--Brooke Graham Doyle
The Confederacy’s answer to revenue deficits during the Civil War was to print more money, leading to hyperinflation on an unprecedented scale.
—National Council on Economic Education, New York
An unregulated banking system in the nineteenth century contributed to a string of severe money panics. A short play in this lesson plan helps students understand why this happened and how today’s Federal Reserve System protects against panics.
By M. Scott Niederjohn and William C. Wood
Keynesian fiscal policy—out of fashion with economists and policymakers for decades—has enjoyed a revival under President Obama’s new economic policy team, but competing approaches also have their advocates.
By James D. Gwartney and Joseph Connors
The current economic crisis is primarily a story about unintended consequences and what happens when the incentive structure is damaged by unsound institutions and policies.