Review of Why It All Goes Wrong! by Gareth Seward
byWhy It All Goes Wrong! serves as a short introduction to the Austrian Business Cycle Theory and many important concepts of the Austrian School…
Speech at Jackson Hole Summit from 2015
byIn 2015 there was a very interesting event in the US – the Jackson Hole Summit, which ran concurrently with the Federal Reserve meeting…
Why the Fed’s tight interest rate stance is unlikely to undo the negatives of the previous easy stance?
byBy Dr Frank Shostak On Wednesday March 16 2022, the US central bank the Fed raised the target for the federal funds rate by…
Too much power in the wrong hands.
byUnless we face up to some simple truths, we are unlikely to experience peace in our world. Given our current political and economic systems,…
It Didn’t Begin with FDR: Currency Devaluation in the Roman Empire
byThe phenomenon of currency devaluation and its consequences is a process that not only occurred in modern times, but has much deeper roots, going…
The evolution of credit
byAfter fifty-one years from the end of the Bretton Woods Agreement, the system of fiat currencies appears to be moving towards a crisis point…
Paternalists Plan a New International Political Consensus
byThe political paternalists and the social engineers are giddy with hope and anticipation. They are confident that their day has, once again, arrived. The…
Forget the Official Numbers: Inflation Is Much Higher
byUnless the government puts a stop on spending and the Fed retires the printing press, continuous inflation is on the horizon.Simon Sarevski Usually preceded…
What’s in a Name? Why the Definition of Capitalism Matters
bySometimes people wonder whether philosophy is of any use in understanding daily life. Aren’t philosophers “in wandering mazes lost”? Away with such nonsense, say…
Balance of payments and exchange rate
byBy Dr Frank Shostak For most economic commentators the state of the balance of trade is a key factor in the currency exchange rate…