Why the policy of price stability leads to more instability
byOne of the duties that a central bank is expected to fulfill is to keep the general level of prices in the economy stable….
An unexpected systemic crisis is for sure
byDownturns in bank credit expansion always lead to systemic problems. We are on the edge of such a downturn, which thanks to everyone’s focus…
The Quick and the Dead
by“The operation was successful but the patient died.” “Teach your kids about compounding: put your money in a savings account and watch it double…
Switzerland’s Approach to Giving the Economy a Lifeline
byby Henrique Schneider One particularly important lesson to learn from the Covid-19 drama is which political decisions could help companies through the crisis. It…
Why the US Economy Is Stronger Than the Eurozone’s
byThe United States is showing resiliency and strength compared with other leading economies worldwide. The impact of the covid-19 forced shutdown crisis is lower in the United States…
Paul Krugman’s Ad Hominem Defense of Central Banking
byOne of the sorriest aspects of almost all political discussions nowadays is how often they seem to degenerate into rude ad hominem attacks rather…
Why the dollar bill has value?
byWhy the dollar bill in our pocket has value? The value of money is established, according to some experts because the government in power…
Gold and Free Banking versus Central Banking
byIn spite of the officially declared “independence” of the Federal Reserve from the immediate political control of either Congress or the White House, America’s…
Open Letter to Mercatus Center
byLetter to Patrick Horan Program Manager for Monetary Policy Mercatus Center Via Internet Dear Mr. Horan and Mercatus: It just came to my attention…
Explaining the credit cycle
byThis article summarises why the credit cycle leads to alternate booms and slumps. It is only with this in mind that they can be…