Are recessions about a decline in GDP?
byBy Dr Frank Shostak According to the National Bureau of Economic Research (NBER), the institution that dates the peaks and troughs of the business…
Economics
Bank credit — friend or foe?
byAdvocates of sound money place much of the blame for inflation on bank credit. Do away with the creation of bank credit, they say,…
Monograph by Steve Baker and Max Rangeley
byThis year I wrote a monograph with Steve on the bubble caused by zero percent interest rates. In fact the bubble has been growing…
Does economic growth pose a threat to living standard?
byBy Dr Frank Shostak According to the New York Times (NYT) article July 17, 2022 –“The pioneering economist says our obsession with growth must…
Would You Abdicate If You Could Be the Dictator?
byLeonard E. Read, the founding and long-serving first president of the Foundation for Economic Education (FEE), once told a story about when he first…
The Fallacy of Calls for a “Manhattan Project” to Solve National Economic Challenges
byMany see the World War II project to build an atomic bomb as a template for government action to solve what appear to be…
The Fed Cannot Go Bankrupt; However, It Can Bankrupt the Country
byA recent essay on the Mises Wire triggered quite a bit of discussion among a group of Austrian school economists. Paul H. Kupiec and Alex J….
The collapsing euro and its implications
byThe euro system and its currency are descending into crisis. Comprised of the ECB and the National Central Banks, the system is over its…
The Nature of Money Creation
byWe are all in service to a money system based on simple injustice. It floods rich people with money taken from the poor. Money…