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In our current age of rampant monetary inflation and price inflation, good economics has become more relevant for ordinary people. Inflation is not some arcane matter of consumer price indices and statistics on the monetary base. Inflation, is simply ruinous on the personal level.
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Argentina's economy has been plagued by increasing inflation since 2007, reaching a world record of 210 percent in 2023. Additionally, the economy has been stagnant since 2011. Milei was elected to turn this around. Can he?
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In ending the gold standard, Nixon was guided by Milton Friedman, who wrongly believed that the Fed could end recessions and cope with inflation by controlling the quantity of money.

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The concrete effects of the destruction of money and property on human personality are demonstrated most vividly in the historical episode of the German hyperinflation of 1923.

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After the Indochina War, Vietnam was one of the poorest countries in the world, but dramatic free-market reforms have made this formerly socialist country prosperous.

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