Steve Hanke Quotes

Steve Hanke Quotes.

Mercantilism was an insidious economic theory that held

Mercantilism was an insidious economic theory that held Europe in its thrall in the 16th, 17th and 18th centuries.
Steve Hanke
Trade balances are determined by national savings propensities, not exchange rates.
Steve Hanke
In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100.
Steve Hanke
In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the financial press was filled with reportage on Bitcoin and its dramatic price increase.
Steve Hanke
With the passing of Milton Friedman on November 16, 2006, we lost one of the great champions of free markets.
Steve Hanke
Let the market, not politicians, determine the flow of rice, oil and other commodities. Lower, more stable prices will ensue.
Steve Hanke
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.
Steve Hanke
When the dollar goes down relative to other currencies, the price of wheat, corn, rice and oil all go up in dollar terms.
Steve Hanke
With interest rates artificially low, consumers reduce savings in favor of consumption, and entrepreneurs increase their rates of investment spending.
Steve Hanke
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.
Steve Hanke
It turns out that the rich are much better placed to feed at the public trough. The poor get crumbs.
Steve Hanke
Following its recognition as a state in 1832, Greece spent most of the remainder of the 19th century under the control of creditors. The pattern started with a default in 1832. In consequence, Greece’s finances were put under French administration.
Steve Hanke
During the Greenspan-Bernanke era, the Fed has embraced the view that stability in the economy and stability in prices are mutually consistent. As long as inflation remains at or below its target level, the Fed’s modus operandi is to panic at the sight of real or perceived economic trouble and provide emergency relief.
Steve Hanke
Although floating and fixed rates appear dissimilar, they are members of the same freemarket family. Both operate without exchange controls and are free-market mechanisms for balance-of-payment adjustments.
Steve Hanke
There has never been a failure of a currency board anywhere in the world. These are tough systems, and when I say they are foolproof, that’s exactly the case.
Steve Hanke
Since the end of the 1970s, free-market capitalism has been in, and socialism has been out.
Steve Hanke
When I was operating as one of President Reagan’s economic advisers, an early assignment was to analyze the federal government’s landholdings and make recommendations about what to do with them. This was a big job. These lands are vast, covering an area six times that of France.
Steve Hanke
Sanctions historically are quite counterproductive in the sense that if you impose sanctions on your enemy, it tends to strengthen your enemy.
Steve Hanke
A minimum wage leads to higher levels of unemployment.
Steve Hanke
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.
Steve Hanke
Most economists use ‘fixed’ and ‘pegged’ as interchangeable or nearly interchangeable terms for exchange rates.
Steve Hanke