Why inflation is not about general increases in prices
byThere is almost complete unanimity among economists and various commentators that inflation is about general increases in the prices of goods and services….
Economics
There Are Two Types of Credit — One of Them Leads to Booms and Busts
byIn the slump of a cycle, businesses that were thriving begin to experience difficulties or go under. They do so not because of firm-specific entrepreneurial…
About that Economic Inequality
byI address this essay to two groups. One group is those among the liberty movement, who believe that there’s nothing wrong with inequality. These…
The European Banking Can Nears the End of the Road
by“The key thing to know about Lehman Brothers is that it did not cause the financial crisis, it revealed the financial crisis”[1] Central Banking…
Benn Steil: Paul Krugman Doubles Down On Fiscal Expansion Claims Contradicted by Data
by“Everything about recent experience,” Paul Krugman says, “suggests that the world desperately needs fiscal expansion to boost demand and … that our sole reliance…
The Looming Bubble in Long-Term Debt
byIn the aftermath of the financial crisis of 2007–2009, analysts and prognosticators have constantly argued over the next big bubble. Will it be in…
Yield Curve Control – the road to infinite QE
byZero Yield 10 year Ever since central banks embarked on quantitative easing (QE) they were effectively taking control of their domestic government yield curves….
High time to get real on interest rates
byHaving just managed to quell a dangerous rebellion among her fellow Committee members, it did not seem the most opportune time for Janet Yellen…
Is the budget deficit an important problem?
byAccording to some commentators the US federal budget deficit still remains a major economic problem notwithstanding that it draws less attention than in the…
Introducing Yield Purchasing Power
byThe monetary debate seems artificially limited. On one side is Federal Reserve policy based on discretion. On the other is policy based on rules….