But this is the very point of tariffs
byThe point of tariffs is not to make those things made by evil Johnny Foreigner more expensive. It is to enable the domestic capitalists…
Does neoliberalism exist?
byThus far, debates about the term “neoliberalism” have not been particularly constructive. I believe this rests on two separate (but related) questions: 1. Is…
The Interesting Lies of Samuelson: How We Naively Believed the Case of Giffen Goods
byBy Ali Hashemifara You have probably heard of the widely believed myth that Napoleon was very short. Evidence proved after his death, however, that he had…
Can the market economy be trusted?
byBy Dr Frank Shostak Some commentators are of the view that one cannot trust the market economy, which is seen as inherently unstable. If…
Max Rangeley & Steve Baker Lecture “Are We in the Largest Bubble in History?”
byI gave this talk with Steve Baker at the Institute of Economic Affairs in Westminster. The moderator was Professor Juan Castaneda. For the last…
The Economics of Uneven Intelligence
byHow AI’s patchy intelligence reshapes firms, risk and entrepreneurship By Elias Sanchez The AI boom seems unstoppable, but its long-term sustainability is uncertain. AI…
Why the neutral interest rate cannot be established
byBy Dr Frank Shostak Most commentators are of the view that what prevents the attainment of price stability is the deviation of the policy…
How Poland Became One of Europe’s Best-Performing Economies
byWritten by Mohamed Moutii For much of the past decade, Europe has been weighed down by prolonged economic stagnation. Growth has slowed, productivity has stalled, and…
Massachusetts 1690: The First Western Fiat Experiment
byBy Joshua Mawhorter This first experiment with government-issued bills of credit presents a natural historical test case for Modern Monetary Theory (MMT), particularly its…
What causes stagflation?
byBy Dr Frank Shostak In the late 1960’s Edmund Phelps and Milton Friedman (PF) challenged the popular view that there can be a sustainable…