How People Keep the World Economy Running
byWhen institutions strain, behaviour adjusts. By Elias Sanchez Despite rising public debt, intensifying fiscal extraction, recurrent economic shocks, and heightened trade and policy uncertainty,…
The Delusions and Dangers of the New Mercantilism
byMore than 150 years ago, the noted British political economist and one-time editor-in-chief of The Economist magazine, Walter Bagehot (1826–1877), observed in an essay entitled “The…
Making sense of historical data
byBy Dr Frank Shostak In order to make the data “talk,” economists utilize a range of statistical methods that vary from highly complex models…
Defining Money
byMany modern economists struggle to define money. Often beginning with an historical overview of the concept of moneyness, they generally end by describing the…
Inflation: A Dirty Word for “Accommodation”
byBy George Ford Smith As a “stealth tax,” inflation requires no legislation to impose, no agency to collect, and diverts responsibility for damages onto politicians’…
Money and Power: Fiat Currency, Monetary Corruption, and the Architecture of Extraction
byJustin M. Ptak Money is often described as neutral, technical, or merely instrumental—a passive medium facilitating exchange within an otherwise political society. This view…
Theory and historical data
byBy Dr Frank Shostak According to the leader of the monetarists school Milton Friedman our knowledge of the world of economics is elusive. Consequently,…
Interest Rates Are Prices, Not Arbitrary Policy Tools
bySince reentering the office of the presidency in January 2025, Donald Trump has been adamant that Federal Reserve interest-rate policy has been a disaster….
Cornered
by“They’re not just getting rich.. They’re getting even.” “Silver has properties that wipe out fungus and bacteria and parasites. And that’s just in finance.”…
Not all Central Banks are created equal
byFor those of us who think central banks are a destabilising blight on the economy, responsible for encouraging malinvestment and engines of inflation, it’s…