How might a free banking system work in practice? Every one with a bank account will have to admit that – from an individual perspective – having a government guarantee for bank deposits is a handy thing. The price to be paid for this is after all a subtle one. Given this reality, it seems unlikely that the banking public would prefer an uninsured bank to an insured one. Yet there is no reason why privately owned insurance companies could not equally fill the same role. Continue reading
If you manage to get past the “insufficient system resources” issue discussed earlier, at least on WinXP systems running with 2GB of RAM you may run into a further memory-related issue: the “out of memory” error. Continue reading
….Increasingly unions came to expect automatic adjustments of wage rates based on published statistics on inflation. In countries with severe inflation (such as Brazil) wage indexing became the norm. A new approach was needed.
That new approach was a subtler one: manipulation of the consumer price indexes used to calculate inflation. Continue reading