Quantitative methods in economics do not explain but describe
byBy Dr Frank Shostak Most economists regard the use of mathematical and statistical methods as the key towards understanding the complexities of economics. They…
Patricians vs. Plebeians: The Realignment
byAll of this should remind us that the history of liberalism (in its traditional sense meaning freedom) is a history of revolt against elites….
Can expansionary policies counter recessions?
byBy Dr Frank Shostak Whenever the signs of an economic weakness emerge, most commentators are of the view that the government should relax the…
Difference between growth and progress
byGovernments and central banks are making the mistake of believing that growth in GDP is a primary measure of economic performance. This confuses growth,…
Inflation: The Reality of Modern Economic Life
byLike the need for separation of church and state, we need the separation of the central bank and state if freedom is to be…
Is our knowledge of the economy elusive?
byBy Dr Frank Shostak According to the popular way of thinking, our knowledge of the economy is elusive. Consequently, the best that we can…
End Legal Tender Laws
byMention the term “legal tender” in polite company and most people will resemble a deer in the headlights. In simple terms legal tender is…
Why dollar CBDCs may never happen
byThe Fed has just released its first public consultation paper on a dollar-based central bank digital currency. For many, central bank digital currencies (CBDCs)…
Interview with Chris Phelan
byYesterday, the Bureau of Labor Statistics in the United States announced that inflation for the year to January was 7.5%, the highest rate in…
Government Planning Brings neither Freedom, Prosperity, nor Equality
byAmerica is in the grip of a serious counterrevolution against the ideas and ideals upon which the country was founded. Whether it concerns fears…