Steve Hanke Quotes

High mandated minimum wages will throw people out of work and onto the welfare rolls in cases where unemployment benefits exist. When it comes to welfare payments, they obey the laws of economics, too. Indeed, if something - like unemployment - is subsidized, more of it will be produced.

Sanctions historically are quite counterproductive in the sense that if you impose sanctions on your enemy, it tends to strengthen your enemy.

Contrary to what most people think, bank money is much more important than state money. In Greece, for example, bank money makes up 84.26% of the total money supply.

After the maxi yuan depreciation of 1994 and until 2005, exchange-rate fixity was the order of the day, with little movement in the CNY/USD rate.

The most important lesson to take away from allowing the minimum wage and unemployment benefit data to talk is that abstract notions of what is right, good and just should be examined from a concrete, operational point of view. A dose of reality is most edifying.

In Argentina, if the weather is bad, critics will blame it on the currency board.

With the passing of Milton Friedman on November 16, 2006, we lost one of the great champions of free markets.

When Ronald Reagan was elected president for his first term in 1980, he received strong support from the so-called Sagebrush Rebels. The Rebels wanted lands owned by the federal government to be transferred to state governments.

In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100.

Following Greece's defeat at the hands of Turkey in 1897, Greece's fiscal house was entrusted to a Control Commission. During the 20th century, the drachma was one of the world's worst currencies. It recorded the world's sixth highest hyperinflation. In October 1944, Greece's monthly inflation rate hit 13,800%.