Is the Japanese Low Inflation–Low Interest Rate Model at an End?
byThe macroeconomic situation in Japan seems to be coming to a head. When the Bank of Japan, under its President Haruhiko Kuroda, announced on…
Raising interest rates is not the right tool to counter inflation
byBy Dr Frank Shostak There is almost complete unanimity among economists and various commentators that inflation is about general increases in the prices of…
Christianity and freedom: a personal view
byFor decades, many observers of the contemporary cultural scene have been rightly concerned about the growing evidence that materially advanced Western societies are experiencing…
Say’s law and macroeconomic ignorance
byProbably the greatest error in modern economics was the abandonment of Say’s law, otherwise known as the law of the markets. In a nutshell,…
James Turk’s Book Review of “The Natural Order of Money”
byIn today’s world where common sense is under attack, it is refreshing to read a book that is not only well reasoned, but provides…
The benefits of a saving culture
bySavings are a vital component of any successful economy, and the foolishness behind the paradox of thrift is exposed in this article. It has…
The role of profits
byBy Dr Frank Shostak Some commentators regard profit as the outcome of exploitation of some individuals by some other individuals. Profit however, has nothing…
Asset prices and the pool of real savings
byBy Dr Frank Shostak We suggest that the heart of economic growth is an expanding subsistence fund or the pool of real savings. This…
Rising rates lead to financial accidents
byA recent Bank for International Settlements paper warning of unappreciated risks in foreign exchange markets echoes my earlier warning in an article for Goldmoney…
The Forgotten Fourth Function of Money & G-SIBs
byMoney is routinely defined by what it does, rather than what it is. That is unfortunate because its modern definition overlooks money’s important –…