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…
Quantitative methods in economics describe but do not explain
byBy Dr Frank Shostak Most economists regard the use of mathematical and statistical methods as the key towards understanding the complexities of economics. They…
There Is No Chinese Economic Miracle
byThe year 2020 will be an extremely tough year for the European economy. Added to an unprecedented drop is a strong impact in the fourth…
Britain’s Greatest Prime Minister
byKevin Dowd My good friend and co-author Martin Hutchinson has just had a published a blisteringly brilliant biography of Britain’s greatest Prime Minister. The…
The supply – demand curves framework and the real world
byBy Dr Frank Shostak By the popular way of thinking, the determination of the prices of goods is summarized by means of supply and…
Could a tighter monetary stance undo the effects from an easy monetary stance?
byBy Dr Frank Shostak By a popular way of thinking, it is the role of the central bank to make sure that economy follows…
Relax, Rotate, Reflate
byWith US elections over and a vaccine in sight, financial market uncertainty has declined Rotation has seen a resurgence in those stocks battered by…
Why We Need a Free Market in Money
byWhat is fiat money and what does it do? This is essential to understand since today’s worldwide unbacked paper, or “fiat,” money regime is an…