The policies of price stability result in economic instability
byBy Dr Frank Shostak For most commentators the role of central authorities is to make the economy as stable as possible. What do they…
Fed’s tighter interest rate stance likely to prolong economic slump
byIn response to the strengthening in the yearly growth rate of the consumer price index (CPI) to 8.6% in May from 5% in May…
The Bank of England’s fatal conceit
byIt’s not been a great week for the Bank of England. The Bank’s announcements that interest rates would be raised to 1.25 per cent…
US Treasury secretary admits she was wrong about inflation prospects
byBy Dr Frank Shostak According to the Financial Times June 1, 2022, Janet Yellen, the US Treasury secretary conceded she was wrong last year…
Even When There Is Inflation, the Fed STILL Fights Falling Prices
byUnder any remotely sound money regime the aftermath of war and/or pandemic is highly likely to feature a sharp decline in the prices of…
Recession, prices, and the crack-up boom
byInitiated by monetarists, the debate between an outlook for inflation versus recession intensifies. We appear to be moving on from the stagflation story into…
Bastiat Predicted the Baby Formula Crisis 170 Years before It Happened
byThe current baby formula shortage in the United States is a pressing crisis, and many in the media have been rushing to explain how such a…
House Price Fallacies
bySome interesting data on housing prices in the United Kingdom(1) was recently published by Savills, one of the world’s leading property agents. The important…
Does increase in government budget deficit promote economic growth?
byBy Dr Frank Shostak Some commentators hold that during an economic slump it is the duty of the government to run large budget deficits…
In the Beginning: The Mont Pelerin Society, 1947
bySeventy-five years ago, there occurred an important event in the post–World War II revival of free-market liberal ideas. Over the first ten days of…