America’s Great Depression and Austrian Business Cycle Theory
byWhen Murray Rothbard’s America’s Great Depression first appeared in print in 1963, the economics profession was still completely dominated by the Keynesian Revolution that began in…
Is the high level of debt a major economic risk factor?
byMany economic commentators regard high level of debt relative to GDP as a major risk factor as far as economic health is concerned. This…
A slow death
by“There’s always something to do.” The late Peter Cundill, philanthropist and value investor. A happy new year to all readers ! Having…
Cobden Centre Seminar at the OECD and Meeting at the IMF
byLast Wednesday I gave a seminar at the OECD on the Austrian School of Economics. I presented with Professor Gunther Schnabl from Leipzig University,…
The fallacy of insufficient demand
byFollowing the ideas of Keynes and Friedman, most mainstream economists associate economic growth with increases in the demand for goods and services. Both Keynes…
Why the Stock Market Is Rising
byGlobal 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…
Inflation v Deflation – State Finances
byThere is a general belief, and that is all it is, that state finances fare better in an inflationary environment than a deflationary one….
China – leading indicator? Stocks, credit policy, rebalancing and money supply
byChinese 10yr bond yields have been rising steadily since October 2016. They never reached the low or negative levels of Japan or Germany. 1yr…
The Fed’s Great Unwind: Will It Sink Us?
byIn the eyes of many people, the Federal Reserve (Fed) is an indispensable institution. We are told it supports growth and employment, fends off…
Are Economic Crises Inherent to Market Economies?
byIt is interesting to note that Marx, in his analysis of the capitalist economic system, basically concentrates on the study of the imbalances and…