By Randall Holcombe | Tuesday February 19, 2013 at 4:10 PM PST | 9 Comments
One factor often cited as contributing to the decline of the Roman Empire was the debasement of the currency. In a period of about 150 years following Emperor Nero’s reign (from 54 to 68 AD) the value of Rome’s currency fell by 50%. By 250 AD, 200 years after Nero, the value of Rome’s...
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Tags: American History, Economics, Federal Reserve, History, Inflation, Money and Banking, Progressivism
By Robert Higgs | at 9:59 AM PST | 6 Comments
Arline Alchian Hoel reports that her father, Armen Alchian, “passed away peacefully in his sleep early this morning at his home in Los Angeles.” He was 98 years old. Armen Alchian was a major figure in the economics profession for more than half a century. At UCLA, where he spent his academic career as...
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Tags: Books, Culture, Economics, Education, Entrepreneurship, entrepreneurship, free enterprise, Free Market, free market economics, Innovation, microeconomics, New Institutional Economic, Property Rights, Ronald Coase, theory of the firm, transaction costs, University Economics, William R. Allen