Nobel prize for Keynesian economics
By Dr Frank Shostak The Nobel prize in economics for 2026 was awarded to Robert E. Hall and Michael Woodford. According to the Nobel…
Emotions versus Reason in Economics
By Dr Frank Shostak According to a practitioner of behavioral economics (BE) Vernon Smith, individuals emotional state rather than reason is the driving factor…
Money supply and the 1930’s Economic Depression
In his writings, the leader of the monetarists’ school of thinking Milton Friedman blamed the Federal Reserve for causing the Great Depression of the…
Why the Fed should not accommodate increases in the demand for money?
By Dr Frank Shostak Through the ongoing process of selection, people have settled on gold as their preferred medium of exchange. Some commentators, cast…
Technology shocks and boom bust cycles
By Dr Frank Shostak Some economists such as Finn Kydland and Edward C. Prescott (KP), the 2004 Nobel Laureates in economics, are of the…
Why increases in money supply can’t cause economic growth?
By Dr Frank Shostak The view that an increase in the money supply could revive an economy is based on the idea that money…
Is the US economy headed for a bust?
By Dr Frank Shostak There is a high likelihood that due to the past large decline in the yearly growth rate of the money…
Is deflation bad for the economy?
By Dr Frank Shostak It is maintained by most experts that a general fall in prices labelled as deflation is “bad news” for the…
The true tax reduction is reduction in government outlays
By Dr Frank Shostak Projects that the government undertakes are likely to be of a questionable nature. The fact that the private sector did…
Can the market economy be trusted?
By Dr Frank Shostak Some commentators are of the view that one cannot trust the market economy, which is seen as inherently unstable. If…