Trumped or Stumped? The tax cut, the debt ceiling and riding the gravy train
byA corporate tax cut from 35% to 15% will cost US$200bln/annum A Border Adjustment Tax could raise US$100bln/annum The boost to GDP growth is…
Economics
How magical is the Keynesian multiplier?
byFor most economists and financial commentators the heart of economic growth is the increase in the demand for goods and services. The view is…
Breaking the chain
by“Wherever there’s injustice, oppression and suffering, America will show up six months late and bomb the country next to where it’s happening.” From Give…
Business cycles are credit cycles
byThis article gets to the heart of why central banks’ monetary policy will never succeed. The fundamental error is to regard economic cycles as…
Does the price of oil determine general increases in the prices of goods and services?
byA very good visual correlation between the yearly percentage change in the consumer price index (CPI) and the yearly percentage change in the price…
Benn Steil: PBoC Spins China’s Bad-Loan Data
byIn a recent speech at Bloomberg’s headquarters in New York, People’s Bank of China Deputy Governor Yi Gang reassured his audience on the level…
The Moral Foundations of the Free Market Society
byHigher education in the United States is engulfed in an ideological campaign against the American political and economic traditions of individual liberty, free competitive…
Will technology change the prospects for emerging market growth?
byThe challenge to low-cost manufacturing in emerging markets is from technology Some industries will benefit but many jobs will be displaced globally The mercantilist…
Fed’s policy of price stability results in more instability
byFor most economists the key factor that sets the foundation for healthy economic fundamentals is a stable price level as depicted by the consumer…
Accommodative Monetary Policy is Encroaching on Fiscal Policy
byWe believe that the ECB is presently using monetary policy in effect to conduct fiscal, as well as monetary policy. Elected politicians should be…