Why Keynes Believed Efforts to Fight Income Inequality Hinder Economic Growth
he economist John Maynard Keynes (1883-1946) famously said, “in the long run we are all dead.” He wasn’t saying we should ignore the long…
Read MoreEconomics
Serious advice
“Given all this, what do MPs do all day? Media manipulation, not operational planning on priorities. “Unsurprisingly, most senior MPs in all three parties…
Read MoreDeeply negative nominal rates are on their way
Growing evidence of a severe global recession is sure to provoke more aggressive monetary policies from central banks. They had hoped to have the…
Read MoreThe Bank’s ‘Stress’ Tests
My report on the Bank of England’s latest (November 2018) stress tests was published by the Adam Smith Institute on August 3rd. The purpose of the stress tests…
Read MoreDoes the GDP growth have anything to do with true economic growth?
To gain insight into the state of an economy, most financial experts and commentators rely on a statistic called the Gross Domestic Product…
Read MoreThe Coming Regime of the ECB: Radical Centrism
There is a changing of the guard at the European Central Bank this year with two important new appointments. Philip Lane, the governor of…
Read More
Obvious Capital Consumption
We have spilled many electrons on the topic of capital consumption. Still, this is a very abstract topic and we think many people still struggle…
Read MoreDoes the idea of price stability make sense ?
The idea of price stability originates from the view that volatile changes in the price level prevent individuals from clearly seeing market signals…
Read MoreFed chairman and the Phillips curve
On July 11, 2019 before the Senate Banking Committee, the Federal Reserve Board Chairman Jerome Powell said that the relationship between unemployment and…
Read More
Is low inflation a threat to the US economy?
“When interest rates are low central banks don’t have much room to maneuver to deal with a crisis”, The New York Fed President…
Read More