A tighter versus easy stance
byBy Dr Frank Shostak After a prolonged period of easy monetary policy, the US central bank the Fed has embarked on a tighter monetary…
James Turk: Natural Money
by“The Earth speaks to us through the elements of nature. In every natural thing, we can find a hidden, powerful message.” Ralph Waldo Emerson…
The neutral interest rate fairytale
byBy Dr Frank Shostak On April 19, 2022 at the Economic Club in New York, the Chicago Federal Reserve Bank President Charles Evans said…
25 years from independence, the Bank of England badly needs to rethink its remit
byThis month, the Bank of England will celebrate 25 years of independence. For the past quarter of a century it alone, and not Her…
Price Indexes Aren’t Accurate Measures of Inflation
by“Inflation” is back in the headlines, and a lot of nonsense is being said about it. Without much thought whether it makes sense or…
What Popper Learned from Hayek
byHayek brings Popper closer to the Austrians in asserting the limits of science and quantitative methods in investigating the objects of the social sciences.João…
Can Capitalism Survive? 80 Years After Schumpeter’s Answer
byEighty years ago, in the midst of the Second World War, Austrian-born economist Joseph A. Schumpeter published one of his most famous books, Capitalism, Socialism,…
Value destruction
byIn recent articles I have argued that the era of a financialised fiat dollar standard is ending. This article takes my hypothesis further and…
Interest rate determination : Mainstream view versus the Austrian School view
byBy Dr Frank Shostak The conventional view, as presented by Milton Friedman is that three factors determine market interest rates. The first factor being…
Theory and the facts of reality
byBy Dr Frank Shostak According to the popular way of thinking, our knowledge of the economy is elusive. Consequently, the best that we can…