Beyond GDP to a New Road to Serfdom
It is a commonplace that there is more to life than money and the material benefits that it may provide someone. We often make…
Read MoreEconomics
The neutral interest rate myth
In his speech to the Economic Club of New York on November 28 2018, the Federal Reserve Board Chairman Jerome Powell said that…
Read MoreWhy velocity of money and the purchasing power of money are not related?
Some commentators are of the view that when the velocity of money rises, all other thing being equal, the buying power of money…
Read MoreMoney growth and inflation – is there a connection?
According to many mainstream economists, a lack of good correlation between the monetary growth and the growth rate of various price indexes casts doubt…
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The Fed Is Tightening More Than It Realizes
by Benn Steil and Benjamin Della Rocca at CFR https://www.cfr.org/blog/fed-tightening-more-it-realizes Before the 2008 collapse of Lehman Brothers, the Fed’s balance sheet stood at $925 billion—mostly U.S. Treasury securities. After…
Read MoreEasy monetary policy and the pattern of consumption
With meagre resources at his disposal, an individual is likely to allocate these resources i.e. his wealth towards essentials such as food, clothing…
Read MoreCoffee Sellers Are Not Fundamentally Different from Banks
By Joakim Book With the 2007-8 financial crisis came a splendid alphabetical soup of central bank interventions to stimulate financial markets, lower interest rates, provide…
Read MoreThe psychology of systemic consensus
We are all too familiar with established views rejecting change. It has nothing to do with the facts. Officialdom’s mind is often firmly closed…
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Caitlin Long on Blockchain and the Austrian School
What is the relation between supply and demand for money?
For most economists there is the need to keep the so-called economy along the path of a stable economic growth and a stable…
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