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Editor's note.

Publication: The Cato Journal
Publication Date: 22-MAR-08
Format: Online
Delivery: Immediate Online Access
Full Article Title: Editor's note.(Editorial)

Article Excerpt
This issue of the Cato Journal features articles that were first presented at the Cato Institute's 25th Annual Monetary Conference, November 14, 2007. The theme of that conference--Monetary Arrangements in the 21st Century--raises important questions about the types of monetary regimes that best protect the value and stability of money while promoting economic freedom.

The hyperinflation in Zimbabwe reminds us of the chaos that government fiat money can create when state-run central banks misuse their discretionary powers. Milton Friedman and Anna Schwartz were right when they wrote in their monumental Monetary History of the United States, "Inflation is always and everywhere a monetary phenomenon." Yet the idea seems to persist that...

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