With Its Latest Rate Cut, the Fed Serves Wall Street and the Regime
byBy Ryan McMaken On Wednesday, the Federal Reserve’s Federal Open Market Committee cut the target policy rate by 0.25 percent, bringing the target down to…
Easy versus tighter monetary stance
byBy Dr Frank Shostak By popular thinking the economy is perceived to be like a space ship, which occasionally slips from the path of…
F. A. Hayek’s “Use of Knowledge in Society”: 80 Years On
byighty years ago, one of the most important contributions to economic theory and policy appeared as the lead article in the September 1945 issue…
Hobbes and the “state of nature”
byIn 1651, the English philosopher Thomas Hobbes imagined life in the “state of nature”—that is, a world without governing institutions and guardrails. This world…
Money of the American Constitution
byThe US dollar is not what most people think it is. There are a constitutional dollar (C$) and a Federal Reserve dollar (F$). The…
Inflation and economic growth
byBy Dr Frank Shostak By the popular way of thinking the policy of price stability does not always mean that the central bank must…
Money of the American Constitution
byThe US dollar is not what most people think it is. There are a constitutional dollar (C$) and a Federal Reserve dollar (F$). The…
How the world really works
by“The central banks did their job. Unfortunately, almost nobody else has done theirs.” “You’re not only wrong. You’re wrong at the top of your…
Marginal utility theory the Austrian School versus the mainstream
byBy Dr Frank Shostak Why do individuals value bread less than gold, when bread seems to be more important in supporting an individuals’ life…
The Price of Cheap Fuel
byHow diesel subsidies left Potosí choking on its own transport system By Elias Sánchez Stepping out of Potosí’s new bus terminal—gateway to one of…