Being and Time (and central banks)
People value present goods more highly than future goods. For instance, an apple available today is considered more valuable than the same apple available…
Read MoreMarch, 2019
The problem with Modern Monetary Theory
According to the Modern Money Theory (MMT), money is a thing that the State decides upon. Following the ideas of the German economist, Georg…
Read MoreChapter 6: America, Won and Lost.
After the United States gained its independence from Britain, it became powerful in the world in two very different ways: as an idea,…
Read MoreThe Global Economy Desperately Needs Freedom
How many bureaucrats are there in the world? The global population currently numbers more than 7.5 billion people. Out of that number it is…
Read MoreChanges in government deposits and money supply
The US debt ceiling suspension, signed in February 2018, expires at the beginning of March this year. Some commentators are of the view…
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Capital Flows – is a reckoning nigh?
Borrowing in Euros continues to rise even as the rate of US borrowing slows The BIS has identified an Expansionary Lower Bound for…
Read MoreDon’t be so negative
“FED’S WILLIAMS SAYS IN A DOWNTURN WE COULD CONSIDER QUANTITATIVE EASING, NEGATIVE RATES.” Tweet by Reuters’ Jennifer Ablan, reporting on a speech by…
Read MoreImportance of model building in economics
In the natural sciences, a laboratory experiment can isolate various elements and their movements. There is no equivalent in the discipline of economics….
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“The Lessons of Economic History” in the European Parliament
Last month I organised the event “The Lessons of Economic History” in the European Parliament. It was kindly hosted by Professor Joachim Starbatty MEP,…
Read MoreTax cuts without reducing government outlays is not possible
According to many economic experts and commentators, an effective way to generate economic growth is through the lowering of taxes. The lowering of…
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