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** April 27, 2021
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** By Doug French
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** Thanks to the Fed, the High-Risk, Small-Time Borrower Is Becoming a Thing of the Past ([link removed])
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The central bank has basically destroyed the business of risk, and commercial real estate remains a looming disaster. As a result, banks aren't lending to regular people. The economy increasingly relies on little more than newly printed money.

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** By Robert P. Murphy
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** An Austrian Critique of Robert Mundell's "Impossible Trinity" ([link removed])
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The impossibility theorem, developed by Nobel-winning economist Robert Mundell, paints a false tradeoff between the free movement of capital, fixed exchange rates, and effective monetary policy. Under a gold standard, all three are a possibility.

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** By William H. Hutt
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** The Factory System of the Early Nineteenth Century ([link removed])
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The salient fact, and one which most writers fail to stress, is that, insofar as the working people then had a "choice of alternative benefits," they chose the conditions which the reformers condemned.

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