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…
A tighter versus easy stance
byBy Dr Frank Shostak After a prolonged period of easy monetary policy, the US central bank the Fed has embarked on a tighter monetary…
Natural Money
by“The Earth speaks to us through the elements of nature. In every natural thing, we can find a hidden, powerful message.” Ralph Waldo Emerson…
The neutral interest rate fairytale
byBy Dr Frank Shostak On April 19, 2022 at the Economic Club in New York, the Chicago Federal Reserve Bank President Charles Evans said…