Does balance of payments determine foreign currency exchange rate?
byAccording to popular thinking, a key factor in the foreign currency exchange rate determination is the state of the balance of payments. Following this…
Elementary approaches on Freedom
byby Michael Messal Source: https://www.austriancenter.com/elementary-approaches-on-freedom/ “Freedom is just another word for nothing left to lose.”i This quote from the song “Me and Bobby McGee by…
Can consumer surveys help ascertaining the future course of an economy?
byIn order to gain insight into the future state of an economy, many economists refer to a variety of consumer and business surveys….
Strong GDP data and individuals’ wellbeing
byIn the New York Times September 14 2018 in an article – We’re Measuring The Economy All Wrong, the writer of the article David…
A Real Agenda for a Renewal of Free Market Liberalism
byTo mark its 175th birthday, the highly regarded and widely read British news magazine The Economist published a “manifesto” in its September 15, 2018,…
Hong Kong and the road to recovery
byWe are following the road to perdition There is increasing awareness that another financial crisis is in the offing, and, of course, everyone has…
Happy anniversary
by“They have learned nothing, and forgotten nothing.” Attributed to Talleyrand. Since everybody else in financial media has been indulging in an orgy…
Macro Aggregates Hide the Real Market Processes at Work
byFor the 12 months that ended in July 2018, price inflation in the United States, as measured by the Consumer Price Index, was 2.9…
Everything is awesome
by“What explains the complacency? One reason might be the absence of good ideas.” Martin Wolf in the Financial Times (‘Why so little has…
Why the Fed Denied the Narrow Bank
byIt’s not every day that a clear example showing the horrors of central planning comes along—the doublethink, the distortions, and the perverse incentives. It’s…