Carl Menger and the Sesquicentennial Founding of the Austrian School
byThere are few works in the history of economics that may be truly considered “revolutionary” and “path-breaking,” in its starting premises, its logic, and…
Fiscal stimulus and economic growth
byFor most experts a key factor that policy makers should be watching is the ratio between actual real output and potential real output. The…
Why Mainstream Economic Forecasts Are So Often Wrong
byBy Daniel Lacalle Every end of the year, by the end of the year, we receive numerous estimates of global GDP growth and inflation…
The importance of assumptions in economics
byBy Dr Frank Shostak Various assumptions employed by economists in their models appear to be of an arbitrary nature. The assumptions seem to be…
US Stocks in 2020 and the prospects for 2021
by2020 has been a torrid year for stock markets globally Fiscal and monetary stimulus rescued investors from a brutal bear-market Digital transformation has accelerated…
Economic and monetary outlook for 2021
byThe most important event in the new year is likely to be the Fed losing control of its iron grip on markets. The dollar’s…
An Economist Rebukes The Economist
byThere are but two ways that man can deal with man: reason and force. Reason includes invention, design, entrepreneurship, finance, borrowing and lending, construction,…
Does cost cutting undermine economic growth?
byBy Dr Frank Shostak By some commentators, cost cutting by companies in order to protect profits can in fact set in motion an economic…
Why Hayek was Right About Nazis Being Socialists
byWords are powerful things in that they enable us to share a common world of understanding with our contemporaries and, in the written form,…
Open Letter to Gregory Mankiw from Keith Weiner
byDear Professor Mankiw: I am writing in response to your article in the New York Times, “The Puzzle of Low Interest Rates”. I commend…