Friday, September 11, 2009


Fiat (FIAT, borrowed, not Flat) Money: How Else You Gonna Kill 600,000 Americans?

Mises Daily by Robert P. Murphy Posted on 9/11/2009 12:00:00 AM

A few years ago on these pages, I harshly criticized an article urging New Yorkers to "eat local," and went so far as to dub the young lady's column, "The worst economics article ever." I am here to report that her record has been smashed. Floyd Norris's recent New York Times article on the greenback is hands down the worst economics article I have ever read. Not only is it jam-packed full of false history, but it uses the falsehoods to justify monstrous crimes, both in the past and present.

Read full article with graphs at:

The reader with a strong stomach will have to click the above link to appreciate the full enormity of Norris's accomplishment, but for those with limited attention spans I'll detail some of its biggest problems below.

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