Cobden Centre Seminar at the OECD and Meeting at the IMF
Last Wednesday I gave a seminar at the OECD on the Austrian School of Economics. I presented with Professor Gunther Schnabl from Leipzig University,…
Read MoreDecember, 2017
The fallacy of insufficient demand
Following the ideas of Keynes and Friedman, most mainstream economists associate economic growth with increases in the demand for goods and services. Both Keynes…
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Why the Stock Market Is Rising
Global Growth Is the Real Driver of the Supposed “Trump Effect” By Benn Steil and Benjamin Della Rocca “The reason our stock market is so successful is…
Read MoreInflation v Deflation – State Finances
There is a general belief, and that is all it is, that state finances fare better in an inflationary environment than a deflationary one….
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China – leading indicator? Stocks, credit policy, rebalancing and money supply
Chinese 10yr bond yields have been rising steadily since October 2016. They never reached the low or negative levels of Japan or Germany. 1yr…
Read MoreThe Fed’s Great Unwind: Will It Sink Us?
In the eyes of many people, the Federal Reserve (Fed) is an indispensable institution. We are told it supports growth and employment, fends off…
Read MoreAre Economic Crises Inherent to Market Economies?
It is interesting to note that Marx, in his analysis of the capitalist economic system, basically concentrates on the study of the imbalances and…
Read MoreCapitalism and Asymmetric Information
Capitalism is a wondrous human institution for the mutual betterment for all in society. Yet, critics often insist that market systems enable sellers to…
Read MorePool of funding the heart of economic growth
Most experts are of the view that massive monetary pumping by the US central bank, the Fed, during the 2008 financial crisis saved the…
Read MoreWhy the positive time preference theory valid despite data contradiction?
In the Mises Institute daily articles column the Wire on November 21 2017 Doug French raised very important issue of negative interest rates. He…
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