Europe’s Bailouts Risk a Full-Blown Financial Crisis
The measures implemented by governments in the eurozone have one common denominator: a massive increase in debt from governments and the private sector. Loans…
Convenience vs. Truth in Economics
By Nathan A. Kreider The great struggle in economic science has been the formulation of theories that accurately describe the real world. Though this…
Fed Accountability Is a Farce
By Robert Aro The Fed claims they are “accountable to the public and the U.S. Congress.” But what good is accountability, if the public…
Mario Draghi’s Economic War Against COVID-19
by Elisabeth Krecké On March 25, 2020, with the world economy paralyzed, Mario Draghi emerged into the spotlight for the first time since stepping…
Nozick on Time Preference
I’d like to discuss some of Nozick’s comments on time preference in his paper “On Austrian Methodology,” but there is an obstacle to doing…
Chinese Debt Could Cause Emerging Markets to Implode
By Benn Steil and Benjamin Della Rocca in Foreign Affairs (https://www.foreignaffairs.com/articles/east-asia/2020-04-27/chinese-debt-could-cause-emerging-markets-implode) The novel coronavirus has brought the world economy to a grinding halt. Global…
Supply, demand and prices
Here is a typical statement regarding supply and demand: “if the demand for any product increases, given the existing supply, the price of that product…
How Markets Price a Pandemic—and How They Lower Risk
In economic terms, war and pandemic are the same without even evoking imagery of the virus as an invisible enemy or of a long…
Best Books on the Folly of Socialism
“Less than seventy-five years after it officially began, the contest between capitalism and socialism is over: capitalism has won.” —Robert L. Heilbroner, “The…
Why the Fed’s Bazooka Will Not Stop a Wave of Corporate Defaults
By Benn Steil and Benjamin Della Rocca Acknowledging the enormous threat to jobs and incomes posed by the coronavirus epidemic, the Federal Reserve on…