Why Venezuelans Might Launder (In a Washing Machine) Their Dollars

The U.S. dollar is a handy backup when a country’s currency loses its value. After Zimbabwe’s hyperinflation hit its peak (or its nadir) in 2009, they used U.S. dollars but didn’t have enough. So, when the cash got too gray…

The Less Obvious Way To Conserve Wildlife

Attempts to encourage African wildlife conservation have changed incentives that affect African villagers and U.S. hunters.

The Travels of Mobile Money

Zimbabwe’s monetary crises used to create money laundering…literally. To preserve their limited supply of worn U.S. dollars, households had to wash them: Now though, they have a new solution. Going Cashless Mobile money has become increasingly popular. Wherever hyperinflation is…

The Economy Where Black is Banned

Like Turkmenistan and Zimbabwe, wherever property rights are unpredictable, we can assume that we have a command economy.

The Strange World of Venezuelan Hyperinflation

Because of hyperinflation, Venezuela needs billions of bank notes so that businesses and consumers can pay the insane prices that rise daily.

Why We Need Trophy Hunting

Expensive trophy hunting packages demonstrate how the price system gives a value to animals that helps to preserve them.

Where to Spend 100 Trillion (Zimbabwe) Dollars

Coping with hyperinflation, Zimbabwe finally had to replace their currency with the US. dollar. A low inflation rate should be their monetary policy goal.

Expanding How We Measure Inflation

Our CPI measure of the inflation rate has been debated because it could be calculated using a chained CPU, could be real time, and excludes some seniors.

Coin Matters

Hearing that Zimbabweans had a limited supply of coins, I recalled one person’s response to Starbucks’ price hike to $2.01 for a tall coffee in NYC: “I can’t believe it. Now I need to walk around with pennies?” I guess…

Laundering Zimbabwean money

In Zimbabwe, people are laundering money. Literally. When their U.S. dollars look too gray and faded, Zimbabweans wash and dry them. In this Wall Street Journal photo, dollar bills, shirts and sheets are suspended with clothes pins along a line. Why?…