Why Keynesian multiplier is an illusion
For most economists and financial commentators the heart of economic growth is the increase in the demand for goods and services. It is held…
Krugman dismisses that an increase in money supply causes inflation
In the New York Times article on March 27, 2018 – Immaculate inflation strikes again – Paul Krugman argues that those economists who are…
Why mainstream economics consistently fails to explain the occurrence of recessions?
In his article released on March 21 2018 – Economics failed us before the global crisis – Martin Wolf the economics editor of The…
Can money pumping stimulate economic growth?
According to most economic experts when an economy falls into a recession the central bank can pull it out of the slump by means…
What is wrong with the popular definition of inflation?
According to Mises, Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank…
Does President Trump really care about the US
On Thursday March 1, the Trump administration announced plans to impose 25% tariffs on imports of steel and 10% tariffs on imports of aluminium….
Why in a pure free market dollar cannot be an independent entity?
Prior to 1933, the name “dollar” was used to refer to a unit of gold that had a weight of 23.22 grains. Since…
Can economic data by itself provide early warning regarding boom-bust cycles?
Most economists are of the view that by means of economic indicators it is possible to identify early warning signs regarding an upcoming recession…
The relevancy of probability in economics
Modern economics in addition to sophisticated mathematics also employs probability distributions. What is probability? The probability of an event is the proportion of times…
Can we ascertain the facts of reality in economics by means of mathematics?
It is generally held that by means of statistical and mathematical methods one can organize historical data into a useful body of information, which…