Discussion of monetary policy tends to ignore entirely the behaviour of individuals and focuses instead on aggregate, or macro-economic, variables such as inflation, growth and employment.An expansion of the quantity of money that leads to inflation will reduce the real value of cash balances...

Competition, or the freedom to enter into a market, contributes greatly to the differentiation of human activities and therefore to economic progress. This fascinating book highlights the similarities between human systems at both the micro and macro level, and demonstrates how competition can...

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