The Rise and Fall of the Japanese Miracle
byIn 1943, John Maynard Keynes claimed that central-bank credit expansion performs the “miracle of turning a stone into bread.” In its attempt to revive…
Morgan Stanley: We Are Approaching An Inflection Point In China Policy Easing
byFrom Zero Hedge: https://www.zerohedge.com/markets/morgan-stanley-we-are-approaching-inflection-point-china-policy-easing By Chetan Ahya, Chief Economist and Global Head of Economics at Morgan Stanley The past two months have seen successive…
Why dollars in our pockets have value?
byBy Dr Frank Shostak Why does the dollar bill in our pockets have value? According to some commentators, money has value because the government…
The Eurosystem and ECB are akin to the Soviet Era Monobank
byWe recently wrote about the extraordinary increases in debt financed by seemingly circular transactions between member state borrowing agencies and the ‘Eurosystem’ –the ECB…
The Eurozone Is Going down the Same Stagnating Road as Japan
byThe European Central Bank announced a tapering of the repurchase program on September 9. One would imagine that this is a sensible idea given the recent…
Without valid theory, the knowledge of the world of economics is not possible
byBy Dr Frank Shostak According to popular thinking, it is held that by means of statistical and mathematical methods one can organize an historical…
Modern Monetary Theory: the Name is New, but the “Theory” is Not.
byThe new kid on the economics block is something called modern monetary theory. The name is new, but the “theory” is not. Proponents adamantly claim…
Last Call For Papers: Austrian School Conference at Austrian Central Bank in Vienna
byThis is a great conference, I gave a speech there in 2019 and will be giving another this year. It’s very special to give…
How unbacked lending weakens the wealth generation process
byBy Dr Frank Shostak For most commentators lending is associated with money. However, is this the case? We suggest that a lender lends savings…
Where Does Your Profit Come From?
byA few recent articles bring to the public’s awareness that wealthy investors are preferring not to sell their assets, and thereby pay capital gains…