Gibson’s paradox: the consequences
byWe now have an explanation for Gibson’s paradox (posted here), a puzzle that has defeated mainstream economists from Fisher to Keynes and Friedman. The…
Economics
Eugen von Böhm-Bawerk: That 70s Show – episode 1
byFrom Eugen von Böhm-Bawerk’s blog. Source: http://bawerk.net/2015/08/05/that-70s-show-episode-1/ In several articles we have shown how the world changed from the 1970s with the breakdown of the old…
Still dancing?
by“Bubbles are the only things that matter. The rest of it is boring. You show up for work, markets are at normal levels, and…
The German Miracle vs. the Welfare State
by[Editor’s Note: The following is by Ludwig Erhard, one of the most important economists of the twentieth century and mastermind of the German economic…
The Only Form of Permanence
byPerhaps the first great lesson of economics, as emphasized by Henry Hazlitt, is that there is no free lunch. The second, courtesy of Frederic…
All out of bubblegum
by“I have come here to chew bubblegum and kick ass. And I’m all out of bubblegum.” – ‘Nada’ (Roddy Piper) in the film ‘They…
Ryan Streeter: Uber is just the tip of the iceberg
byUber’s battle with New York City mayor Bill de Blasio, which culminated this week in a temporary truce while the city “studies” Uber, shines…
Goldhead revisited
byThe following article first appeared in the print edition of The Spectator magazine, dated 4 May 2013. Few assets are more misunderstood than gold….
Laying the Foundations
byAs the Yellen Fed inches painfully towards taking its first ‘data-dependent’ steps to raise rates (albeit with the promise that such a process will…
Gold and Gibson’s Paradox
byThere is a myth prevalent today that the gold price always falls when interest rates rise. The logic is that when interest rates rise…