There will be no end to ‘quantitative easing’
byThe Bank of England is expected today to announce another round of debt monetization, called ‘quantitative easing’. A majority of economists polled by Dow…
What the classical economists knew and the moderns have forgotten – part 4
byHazlitt referred to the great economist Benjamin M. Anderson in the same breath as Mises when saying that both of them had already penned…
Speech on the Financial Services Bill
byUnder the heading, Osborne looks to limit damage of ‘credit busts’, the FT gives a neat summary of the Chancellor’s plans. In particular: He…
It’s hard to account for flaws in the rule-book
byIn my latest City AM column I discuss Gordon Kerr’s recent book, which points to the role of accounting regulations in the obfuscation of…
What the classical economists knew and the moderns have forgotten – part 3
byToday we reproduce a wonderful essay written by Ludwig von Mises for the Oct 30th 1950 edition of The Freeman, and subsequently published in…
What does a credit rating mean?
byCredit ratings agencies have come under fire for not being proactive enough in recognizing bad sovereign risks. Even if the ratings agencies were a…
2012 outlook
byThis time last year, while still bullish out of regard for the effects of the Fed’s latest burst of monetary pharmacology, we had begun…
Gold and silver price shakeout
byThe consolidation of gold’s bull phase from October 2008 to the peak last September was a classic three-leg correction: an initial slide, rally, and…
Aggregate nonsense
byThe economic policy debate is dominated by wishful thinking and fallacies of the most dangerous kind, propagated no less by the high and mighty…
What the classical economists knew and the moderns have forgotten – part 2
byOn Wednesday, I talked about the forgotten wisdom embodied in Say’s Law. Today, we reprint the chapter called “Keynes vs. Say’s Law” from Henry…