Welcome to the world of ZIRP zombies
byInterest rates in the US, Europe and the UK were reduced to close to zero in the wake of the Lehman crisis nearly seven…
Greece crisis proves the need for a currency Plan B
byThe recent Greek capitulation under pressure from other euro member countries, led by Germany, demonstrates that euro members have de factoceded sovereignty over fiscal policy to…
John Stuart Mill And The Dangers From Unrestrained Government
bySource: http://www.epictimes.com/richardebeling/2015/08/john-stuart-mill-and-the-dangers-from-unrestrained-government/ One of the great voices for personal liberty was that of the British economist and political philosopher, John Stuart Mill. His essay,…
The Economy is in Liquidation Mode
byIf you’re an American over a certain age, you remember roller skating rinks (I have no idea if it caught on in other countries)….
Yield Purchasing Power: $100M Today Matches $100K in 1979
byI wrote a story about poor Clarence who retired in 1979, and even poorer Larry who retired last year. I created these characters to…
Economic bust and stable price levels
byThe yearly rate of growth of the personal consumption expenditure (PCE) price index adjusted for food and energy stood at 1.3% in June –…
Gibson’s paradox: the consequences
byWe now have an explanation for Gibson’s paradox (posted here), a puzzle that has defeated mainstream economists from Fisher to Keynes and Friedman. The…
Eugen von Böhm-Bawerk: That 70s Show – episode 1
byFrom Eugen von Böhm-Bawerk’s blog. Source: http://bawerk.net/2015/08/05/that-70s-show-episode-1/ In several articles we have shown how the world changed from the 1970s with the breakdown of the old…
Still dancing?
by“Bubbles are the only things that matter. The rest of it is boring. You show up for work, markets are at normal levels, and…
The German Miracle vs. the Welfare State
by[Editor’s Note: The following is by Ludwig Erhard, one of the most important economists of the twentieth century and mastermind of the German economic…