The Real Bills Doctrine

Lately, we’ve taken a look at many different economic theories that helped contribute to our modern economic landscape. Quite recently, we touched on the quantity theory of money, which purports a connection between the amount of available money supply and increases and decreases in inflation and the value of currency. Now, we’ll take a look

The Quantity Theory of Money

The concept of the quantity theory of money began in the 16th century, as more and more money began to flood into the New World. Essentially, the quantity theory of money is the belief that as more money enters an economy, the rise in the money supply will be equal to more inflation. In 1802,

Keynesian Economics vs. Classical Economics

In the world of economics today, there are two opposing sides of economic theory that have prevailed, yet continue to be debated about: Keynesian and Classical economics. Keynesian economics derives from the English economist John Maynard Keynes, while Friedrich Hayek, an Austrian, founded what would eventually become the modern Classical theory of economics. Both men

European Countries with a Sovereign Debt Crisis: Greece

Over the past decade, there has been an economic phenomenon that has gripped several powerful countries in the European Union, causing an economic crisis that has caused several countries to spiral into a conflict of identity and policy. While some of these countries have gotten better, others have not. This series is devoted to looking

European Countries with a Sovereign Debt Crisis: Cyprus

Over the past decade, there has been an economic phenomenon that has gripped several powerful countries in the European Union, causing an economic crisis that has caused several countries to spiral into a conflict of identity and policy. While some of these countries have gotten better, others have not. This series is devoted to looking

European Countries with a Sovereign Debt Crisis: Spain

Over the past decade, there has been an economic phenomenon that has gripped several powerful countries in the European Union, causing an economic crisis that has caused several countries to spiral into a conflict of identity and policy. While some of these countries have gotten better, others have not. This series is devoted to looking