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…
The Fed and asset bubbles
byIn his speech on April 7 2010 at the Economic Club of New York the President of the New York Fed, William Dudley argued…
Japan’s Not Really A Domino, Though The Timing Is Right
byBy Jeffrey P. Snider This year is just different. Increasingly so. Not just in one or two places, either, but in way too many places….
China’s Trade Surplus With US Hits Record High as Export Growth Declines
byby Mike Mish Shedlock US trade data with China makes it increasingly likely Trump will increase tariffs on China. Bloomberg reports China Trade Outlook Darkens as…
Laissez-Faire and Little Englanderism: The Rise, Fall, Rise, and Fall of the Manchester School
byBy Gregory Bresiger from THE JOURNAL OF LIBERTARIAN STUDIES Volume 13, Number 1 (1997) War Follows Protection. Peace Follows Free Trade. As David Ricardo said, “If…